Community Business Partnership – Microloan Program

WHAT IS THE MICRO- LOAN PROGRAM?
The Micro-Loan Program helps clients start, grow or expand a small business.  It provides direct loans from $2,000.00 to $10,000.00 to qualifying applicants.

What is required?
A written business plan with two years of financial projections together with:

• Last year of personal and/or business tax returns.
• Four months of bank statements, personal and business.
• Copy of applicable business licenses and permits;
• Exisiting businesses should submit Financial statements including cash flow and profit and loss statements, and balance sheets if available;
• Lease agreement (if applicable);

Are there fees involved?
An initial cost of $15.00 to enable CBP to run a credit report.  Additional loan application fees, only payable if the loan is approved, are assessed as follows:

• less than $5,000 application/closing fees are $200.00
• $5,000 to $10,000 application/closing fees are $400.00

Are there other Requirements?
Depending on the applicant’s level of business experience, attendance at CBP’s NxLevel Course may be required, either prior or post loan approval.

Is my credit a consideration?
The Business Finance Center will run a credit check as part of the loan application process.

How Do I Apply for a Loan?
Email [email protected] to discuss your loan application.

Microloan Applicatio