SBA Micro Loans

CEDF is one of two providers statewide who participate in the Small Business Administration's Micro Loan Program.

Product:

• loans up to $35,000
• flexible terms and conditions to meet business needs
• free business consulting assistance from CEDF staff
• can be used in conjunction with other CEDF loans up to $105,000

Eligibility / Application Criteria:

• for profit businesses
• meets CEDF eligibility requirements (see requirements)
• benefit to the community
• simplified business plan including financials
• CEDF simplified application
• Reasonable ability to repay loan

Terms:

• 3 to 6 years
• No prepayment penalty
• flexible loans

Uses:

• Working Capital
• Equipment or machinery
• Inventory

Pricing:

• Fixed rate of interest
• Interest rates starting as low as 9.5% for qualified borrowers
• $100 annual contribution towards technical assistance
• reimburse CEDF for credit reports
• no fees

Collateral:

• borrower(s) must sign personally
• pledge any assets
   

Contact: (203) 235-CEDF (2333)
Toll Free: (888) 835-CEDF (2333)

Download Application