Strategic Growth Loan Fund
Strategic Growth Loan Fund
Phase 1 (loans of $1,500 to $2,500)
• Interest Rate: 7%
• Term up to one calendar years and/or 12 months
Borrower Requirements:
• Current Credit Report
(Lending decision is not based solely on credit report; however a credit repair
workshop will either be recommended or required)
• Business Plan
• Tax returns for last 2 years
• One Business and One Personal letter of recommendation
After completely servicing Phase 1 or 6 months of successful
debt service, individuals are eligible to participate in Phase 2.
Phase 2 (loans of $10,000 to $50,000)
• Interest Rate: 7%
• Term of 3 to 5 years
Borrower Requirements:
• Current Credit Report
• Business Plan
• Both Personal and Business Tax returns for last 3 years
• One Business and One Personal letter of recommendation
• Collateral (i.e. hard asset, real estate)