If your business has less than six months of revenue history, we encourage you to apply for a Start-up Loan of up to $50,000. Not only will it give you the startup capital you need to invest in your company, it will help you build your credit in the hopes of qualifying for a larger loan after you’ve become more established.
The features of this loan include:
- A fixed interest rate
- Loan terms up to 10 years
- No pre-payment penalty
- A one-time commitment fee plus collateral filing fees
- $30 application fee applies
- You’ll need monthly income that exceeds your personal expenses.
- You should be current on all of your personal and business bills.
- You must not have any outstanding tax liens or be delinquent on child support.
- Any bankrupticies must be discharged prior to applying.
- You’ll need to have a business plan that includes a budget.
- You'll need to be able to provide collateral for the loan.