• Oct 19, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

SEED Corp. is a 501 (c)3 non-for-profit organization founded in 1996 by the Small Business Development Center, Bloomington Urban Enterprise Association, the City of Bloomington, Middle Way House, and Bank One.

SEED Corp.’s mission is to foster an entrepreneurial spirit and encourage economic self-sufficiency through the start-up and growth of small business and self-employment opportunities in the greater South Central Indiana area.

SEED Corp. accomplishes this mission by offering a Small Business Planning Course, administration of microloan funds, and on-going technical assistance to program participants.

Who is BUEA? The Bloomington Urban Enterprise Association provides the means to improve the economic, physical, and social environment for Zone residents, and businesses.

Who is eligible to apply to the BUEA Loan Fund? Individuals applying for a loan from the BUEA Loan Fund must meet the following eligibility requirements: · Applicant’s business is located in the BUEA Zone.

· The applicant is 18 years or older.

· Applicants must complete and graduate from Section II of the Small Business Planning Course.

· For-profit business legally structured in most suitable form.

· Projection of income sufficient to repay loan.

What can the BUEA Loan Fund money be used for? · Legal business purposes · Seed capital to start a new business or expansion capital for a small existing business · Furniture, fixtures, supplies, materials and working capital, etc.

What can’t the money be used for? · To payoff existing debt, (taxes, credit cards, etc.

) · Pyramid businesses (i.e. Avon, Mary Kay, etc.

) · To provide funding solely for personal expenses What are the terms of the loan? · The minimum loan amount $500 and the maximum loan of $15,000, per applicant.

· Loan terms from 30 days to 3 years.

· Installment loans (repayment of principal and interest made on a monthly basis for a set period of time).

· Interest rates are fixed for the term of the loan.

· Personal guarantee and collateral are required (the type of collateral is negotiable)



Contact Information
SEED Corp.
Address: 501 N Morton Street, Suite 106
City: Bloomington
State: Indiana

Website: http://www.seed-corp.org/

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