They will finance existing businesses and start-ups. They have a variety of different requirements based on your business. No matter what, they do have the following minimum requirements:
- Must be 18 years of age or older.
- Must be the business owner or co-owner.
- Loan must be for business purposes only.
- No recent bankruptcies (in the past 12 months).
- You must be up-to-date on your bills, especially rent/mortgage.
- Applicants with an adjustable mortgage will not be considered.
- You must be able to prove a stable source of income (i.e. you need a real job).
- You must have no more than $3,000 in past due debt; generally acquired under extraordinary circumstances (e.g. layoff or illness).
- Please note that a cosigner may be required.
Well? What are you waiting for? Go apply today.
Disclosure: I am not affiliated with ACCION USA, except that I am a big fan of their work.