Loans up to $50,000. Who will be our loans for?
They’re great if for example the company is brand brand new and also you don’t have long credit history, can’t provide sufficient security, or you only require a tiny loan (up to $50,000). Our loans may also be great for building credit, helping prepare you for old-fashioned financing later on. In case the company requires a tiny loan – up to $50,000 – and you don’t get access to a conventional financial loan, a BOI loan could be the choice that is best for your needs.
Emily is an individual mom who operates a day care that is home-based. She requires $5,000 which will make upgrades to her area.
Also though she doesn’t have actually a very good credit rating, Emily surely could show her monetary security which allowed her to get a BOI loan for her long standing company.
Juan are the owners of a brewery that is successful. To keep up using the need their company is producing, he requires $50,000 to get equipment that is additional. Because their company is just couple of years old, a BOI loan was able to fulfill their requirements without interrupting their company development.
Valerie is a brand new business owner whom is establishing a startup. She requires $20,000 of working money to use her company before she’s got constant product sales. A business coach is able to help refine her business model and projections until she is loan-ready because Valerie is a first-time entrepreneur.
- Readily available for start-ups or businesses that are existing
- No minimum credit score needed
- ITIN accepted instead of SSN (making loans open to immigrant business owners)
- Interest = Prime + 3% to 8per cent
- Applicant needs to be at the very least 18 yrs old, reside and run company in Central Indiana
- Application cost will be based upon the dimensions of loan and certainly will be talked about together with your company mentor
More information is supplied on our FAQ page. [Read more…]