Micro Business Loans
Program Outline
Microloans is an alternative to traditional financing sources and can assist with the start up or expansion of a small business. Microloans provides financing of up to $5,000 at a reasonable interest rate. The maximum term is two years and there is a 5% application fee for approved loans. The outcome of the program is to help entrepreneurs start their business, grow their business and establish or repair their credit history.
How It Works
The loans are character based and applicants are required to attend a Momentum business development program and complete a business plan. An applicant with any kind of credit will be considered, however un-discharged bankruptcies cannot. The application and business plan will be presented to a loan review committee and all factors are considered when making a decision.
Benefits to You
Financing can assist with:
- Asset purchase
- Marketing expenses
- Start up costs
Who Can Apply?
Most types of business are eligible, but borrowers must:
- Be 18 years of age
- Operate a business in Calgary
- Have a have a viable business opportunity and a complete business plan
- Attend a Momentum business training program
- Be unemployed or low income
- Cannot have an un-discharged bankruptcy
- Multi level marketing, distributorships or franchises are not eligible for the program
How to Apply?
Contact Uzo at 403-204-2685
or email businessloans@momentum.org for further information.
Financial Partners
This program is made possible by:
