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Micro-Loan from CIC

Micro-Loan

Provides fixed rate loans up to $50,000 to for-profit businesses.

Is this resource a good fit for you?

If you are looking for a loan (maximum $50,000) for machinery or other specific costs.

Description

The SBA Micro-loan Program provides fixed-rate loans up to $50,000 to for-profit businesses. These loans are for startups or existing businesses and can be combined with other financing sources to create a $150,000 financing package.

Eligible uses include:

  • Equipment
  • Inventory
  • Leasehold improvements
  • Marketing programs
  • Other specific business costs

Services

  • Loan can be for startup or existing business (startups are typically limited to $50,000).
  • Ongoing business consulting services available free of charge to borrowers.
  • Fixed rate interest.

Criteria

  • Business must demonstrate ability to repay debt.
  • The minimum collateral is lien on business assets.
  • Personal guarantee from all owners of 20 percent or more of the business.
  • Cannot be used to refinance debt.

Contact Info

Contact: Aya Beckles Swanson

Street: 2315 Whitney Avenue Suite 2B

City: Hamden

State: CT

Zip: 06518

Phone: 203-776-6172

Email: info@ciclending.com

Website: CICLending

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