Areas Served: Statewide New York
As a Small Business Administration (SBA) Microloan Intermediary Lender, ACCION USA is able to provide small business loans up to $35,000 in New York State with: – Flat, reduced interest rates: 8.99% annually – Loan closing costs capped at $100 – One-on-one technical assistance provided to each SBA Microloan recipient BASIC LOAN REQUIREMENTS Your loan consultant will work with you one-on-one to walk you through our loan requirements when you apply.
But before you get started, learn about our basic loan requirements.
In general, to qualify for a loan you must: – Have a credit score of 575 or more.
– Have not have declared bankruptcy in the past 12 months or foreclosure in the past 24 months – Have not had any late rent or mortgage payments in the past 12 months – Be up-to-date on all bills – Not have more than $3,000 in past due debt, generally acquired under emergency circumstances (such as layoff or illness) – Exhibit steady cash flow and the ability to support monthly loan payments.
Learn More – Be able to provide a cosigner, if needed – If you have a mortgage, it must be fixed-rate or an adjustable rate mortgage that does not adjust during the term of the loan.
Contact InformationAccion USA
Address: 115 E 23rd Street, 7th Floo
City: New York
State: New York
Website:
http://www.accionusa.org/home/small-business-loans/about-our-loans/loan-funds/sba-microloan-program.aspx
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