GROWTH LOAN FEATURES
GROWTH- Up to $35,000 to assist with growth in both typical and unique ways. Loan use may range from equipment to marketing and legal expenses. If you can make a case for why it's beneficial, the loan committee will consider the request.
RELATIONSHIPS- A personalized review process builds relationships with business leaders that want your business to succeed. Providing helpful insights rather than focusing solely on a critical evaluation is an additional value add with this unique process.
NO MINIMUM CREDIT SCORE - While traditional credit scores will always play an important role in the financial system, the Growth Loan's alternative underwriting methods are designed to evaluate the merits of a business and it's owner with an eye to the future rather than the past.
TIME- Small businesses have limited free time. While meeting with the SBDC to create your loan package you'll benefit from additional insights and industry-wide data along the way. You'll also learn about other local options for accessing additional capital.
COST- A higher interest rates isn't always the best way to offset risk. It can also be mitigated through a better understanding of the strengths, weaknesses and reputation of the borrower. Unlike online lenders, the Growth Loan provide interest rates that are at or below market.
NO FINANCIAL COLLATERAL REQUIREMENTS - If you had the money already, then finding a loan would be easy! A lack of financial collateral makes commonsense purchases extremely challenging. The Growth Loan is relational. Your collateral is your local reputation.