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Micro-Loan Recovery Program

During this time of unprecedented change, we are coming together in support of our customers and communities. We’ve partnered with Bryn Mawr Trust, Customers Bank, OceanFirst Bank and WSFS to create the Micro-Loan Recovery Program. This program is intended to help small businesses within the Philadelphia area that are in need of financial assistance to reopen their businesses.

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
 
 
 
With this program, we intend to help Philadelphia-based businesses survive these challenging times and thrive in the years to come. If you are in need of financial relief and have questions, please call 215.799.4722 or email us at PhilaMicroLoan@univest.net.
 


 
 
MICRO-LOAN RECOVERY PROGRAM BROUGHT TO YOU BY
 
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Bryn Mawr Trust Logo
WSFS Bank Logo
 
Ocean First Bank Logo
Customers Bank Logo
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

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We recognize the financial strain and devastation some businesses may be experiencing, and we're here to help. If you have any concerns or need support, please reach out.
 
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215.799.4722
 
 
 
 
 
 
 
 
 
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