Sometimes just a small financial boost can help your business in a big way! The Micro Advantage Loan Program can do just that.
The Micro Advantage Loan Program can be used for nearly any business financing need, from working capital to equipment purchases and more. Most small businesses are eligible with special features for certified M/WBE and Service Disabled Veteran owned businesses.
The Micro Advantage Loan Program provides funds to businesses that may not otherwise be a candidate for traditional bank loans. This loan program gives you the opportunity to secure funding while learning the loan process and building your credit.
Loan amount: $10,000 to $50,000
Rate: Prime +0 fixed at closing
Term: Up to 5 years
Fees: $100 application fee with a $250 commitment fee which can be financed into your loan. Application and commitment fees are waived for all certified M/WBE and Service Disabled Veteran owned businesses.
Technical Support: Staff dedicated to one-on-one, personalized assistance to help get through the application process.
Established businesses can use the Micro Advantage Loan Program to support their financing needs. If your business has a break-even or positive cash-flow, and a history of paying its debts, then you’re a good candidate for the loan program. To be considered for approval, you must meet the following requirements:
One or more years in business
Headquartered in Monroe County
Employs 25 or fewer employees
Less than $4 Million in annual revenue
Business is not home-based
No liens or judgments filed for you or your business within the last 3 years
Learn more about Monroe County’s Minority and Women Business Enterprise (M/WBE) Certification and Utilization Program and apply online at monroecounty.gov/dei-mwbe.
Please note that we do not lend to money-service businesses; ‘passive’ businesses engaged in owning, purchasing, leasing, or re-selling real estate or other assets; or those operating in sin industries.