A fixed percentage is charged. Repayment is computed on a monthly basis
Loan terms are matched to the asset financed but not to exceed 10 years.
Maximum $30,000
Minimum $5,000
A loan applicant must:
Show evidence of experience and knowledge to operate the business successfully
Provide a minimum equity injection.
Show that the proposed loan is secured by sufficient collateral to ensure repayment.
Create or retain a minimum of one job for every $30,000 borrowed
Not be delinquent to any taxing authority or agency thereof.
