MICROLOANS FOR SMALL AND MINORITY BUSINESSES
SMALL BUSINESSES – FEWER THAN 50 EMPLOYEES
LOAN AMOUNTS
Loan only applicants can get: $5,000, $10,000 or $15,000
Merchant Accounts: $6,000, $11,000 or $16,000
Loans greater than $16,000 are available.
REQUIREMENTS
- For-profit business owners only
- Start-up businesses
- Existing businesses for at least 6 months
- Working capital financing
- Business plan is required for all loans
- Must have a business account
TERMS
- 7 – year payment terms
- Low monthly payments
- Lenders fees and application fees needed
BENEFITS OF PROGRAMS
- SBA-guaranteed loan
- Fewer paperwork
- Low fixed interest rates
