
MICRO-LOAN RECOVERY PROGRAM
- Business Requirements
- Located in Philadelphia
- In business for 12 months or longer
- Borrower must provide evidence of current business license
- Borrower must provide evidence of ownership
- Personal credit score of all individual Borrowers/Guarantors must be 640 or higher
- Borrower must provide evidence of sufficient funds available to reopen the business
- Loan Details
- 10-year term
- No payments are due in year 1
- In years 2 through 10, monthly principal and interest payments are due with a loan amortization of 9 years
- Loan amounts ranging from $3K to $25K
-
Guarantees of all owners of the borrower are required
-
Loans are secured by a lien on business assets
- Step interest rate:
- 0% interest rate for the first year
- 1% interest rate for years two through 10
- Other customary terms and conditions are contained within the loan documentation
MICRO-LOAN RECOVERY PROGRAM BROUGHT TO YOU BY
contact us
Thank you for your submission.
to the
top
top