Small Business Loans up to $50,000

People often wonder if there is a difference between a microenterprise loan and a small business loan.  They are basically the same, just different sizes.

The UMLF is currently making loans of between $25,000 and $50,000.

Loan Specifics:

> Loan Amount: up to $50,000

> Areas of Availability: Statewide

> Maximum Repayment Term: 6 years

> Interest Rate: Prime Rate plus 5%-7%

> Processing Time: three to six weeks

This loan requires you to prepare and present a thorough business plan, including financial projections.

 

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