Loan Criteria
Loans will be made in the amount ranging from $5,000 to $20,000 (all currency in US Dollars)
General Terms:
- One Year Loan 0% Interest. One Additional Year at Prime +2%
- It is expected that the loan will be paid off in one year.
- Secured on the assets of the business—No personal securitization required.
- If the loan is not paid in one year, the company will make quarterly payments beginning on the 1st anniversary of the loan agreement in equal installments based on the outstanding loan balance at the time of the one year anniversary of the loan agreement.
- Companies awarded loan funds will be required to report quarterly while the loan is outstanding in the form of unaudited financials and a short narrative on how funds have been used to date including the associated results.