Micro-Loan (Under $5,000.00) Requirements
- Micro-Loan Application Business Proposal
- Description of your business
- What product or services your business will be selling
- Description of business operations
- Descriptions of how you will market your business
- Description of financing needs and justification for loan request
- Description of how the loan is to be repaid, including cash flow projections and break-even analysis
- Personal Financial Statement
- Certificate of completion of Entrepreneur Training approved by the Loan Committee
SBDF Proposed Fee Schedule
Original Loan
$25 application fee for micro-loan
$145 application fee for large loan to cover administrative costs and filing security documents
1% of total loan amount for closing costs
Fee For Late Payments
If the regular monthly payment is not received within 15 days of the due date, Borrower shall be charged a late fee of 2% of the monthly payment. The late charge shall be considered unpaid if not received within 30 calendar days of the missed due date for which it was imposed. Any unpaid late charge(s) shall be added to principal. Acceptance of a late charge by the Agency does not constitute a waiver of default.
Forms
| Form | Microsoft Word |
Microsoft Excel |
Adobe pdf |
|---|---|---|---|
| SBDF Micro Loan Application |  |
 |
|
| Personal Financial Statement |  |
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