Areas Served: Richland, Ashland, Huron and Crawford County
The Appleseed Microfinance loan fund is designed to help provide small amounts of capital to small business in North East Ohio (Richland, Ashland, Huron and Crawford County) with the goal of creating or retaining jobs.
Loan amounts will range from $1,000-$35,000. Eligible borrowers:
¢US citizens, 18 years of age or older
¢Startup and existing businesses including home based businesses
¢Businesses with less than $1,000,000 in annual revenue Use of funds include:
¢Equipment
¢Inventory
¢Business debt restructure
¢Working capital
¢Short term projects Ineligible uses of funds include but are not limited to:
¢Real estate development, management, or speculative real estate
¢Illegal businesses
¢Not-for-profits Terms: Interest rate is fixed at Prime + 4% Length of loans depend on loan amount and use of funds with a maximum of 5 years Loans require personal guarantee from all owners
Contact InformationBraintree Business Development Center
Address: 201 E 5th Street
City: Mansfield
State: Ohio
Website:
http://www.braintreepartners.org/programs/appleseedmicrofinance.html
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