Areas Served: Apache, Cochise, Coconino, Gila, Graham, Greenlee, La Paz, Maricopa, Mohave, Navajo, Pima, Pinal, Santa Cruz, Yavapai, Yuma
Launched in 2001, this program offers loans up to $35,000 and includes post-loan technical assistance.
Eligibility For businesses that have been established for at least 1 year: – Positive cash flow – Reasonable credit with acceptable explanation for any derogatory marks – Collateral equal to loan amount or co-signer with reasonable credit and income to repay loan – Minimum two years experience in industry For start-up businesses: – Two years of experience in the industry – Capital injection of 25% of project – Reasonable credit – Secondary source of repayment – either collateral equal to loan amount or co-signer with reasonable credit and income to repay loan – Historical earnings sufficient to cover personal living expenses – Acceptable business plan with projections and assumptions upon which the projections are based
Terms and Conditions – Maximum loan amount $35,000 – Terms 3 to 5 years – Interest rate Prime + 3.5% (fixed)
Covers Apache, Cochise, Coconino, Gila, Graham, Greenlee, La Paz, Maricopa, Mohave, Navajo, Pima, Pinal, Santa Cruz, Yavapai, Yuma in Arizona.
Contact InformationCDC Small Business Finance
Address: 2910 E Camelback Road, Ste 185
City: Phoenix
State: Arizona
Website:
http://www.cdcloans.com/loan_programs/loans_up_to_250000/sba_micro_loan.shtml
Leave a Reply