Community Teamwork Inc. and the Lowell Small Business Assistance Center Announce the Lowell Small Business Assistance Center Microloan Fund |
| LOWELL, MA- June 1, 2011 - Want to grow and/or enhance your small business? Unable to get conventional bank financing? The Lowell Small Business Assistance Center's Microloan Fund Program will target low and moderate-income entrepreneurs in the Merrimack Valley who lack access to conventional credit but who have the capacity to achieve small business ownership. The Fund will bridge the credit gap, helping businesses expand and grow, and make them bankable. Capacity is determined through business planning and successful financial analysis; and strengthened and monitored through continued technical assistance. The mission of the fund is to help create, strengthen, and expand businesses owned by low and moderate-income individuals in the region, infusing capital into small businesses and contributing to economic development. Click here to read the full press release. |
Contact Us - Interested Businesses Should Contact Us Directly:
- Terry Williams, Assistant Director
- 978-322-8402
- twilliams@comteam.org
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Loan Products - Loans up to $5,000;
- Up to 5 years to pay back, depending on financial analysis;
- No prepayment penalties;
- Low annual interest rate;
- Technical assistance and training on small business topics.
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| Eligible Businesses - Existing businesses (in business at least 12 months)
- Retail
- Service
- Wholesale
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Eligibility Criteria - Must be unable to obtain a conventional bank loan;
- The business must be located within the Merrimack Valley;
- Must be able to demonstrate a capacity to repay the loan;
- Must be willing to receive technical assistance.
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