The Flagship Enterprise Center in Anderson says it has been approved to participate in the Small Business Administration's Community Advantage loan program. The center, which already provides microloans, says the initiative will allow it to make funding of up to $250,000 available to small businesses.
June 10, 2014
Anderson, Ind. — Flagship Enterprise has been approved by the Small Business Administration to participate in its Community Advantage loan program. Already a leading microloan lender with over $1.25 million in loans since 2010, Flagship can now make funds available up to $250,000 to small businesses.
Community Advantage loans are designed to provide much needed capital to business owners who qualify though these guidelines:
• The business has been unable to receive funding from traditional banking sources.
• Demonstrated positive cash flow and ability to repay the loan.
• For-profit, viable business.
• Use of funds for working capital, inventory and/or expansion.
• Attractive financing for Minority, Women and Service Veteran and Low Income owned businesses.
• The business exists in Marion, Madison, Hamilton, Hancock, Delaware, Shelby, Tipton, Henry, Wayne, Howard, Grant and Rush counties in Indiana.
Each Community Advantage loan will feature fixed terms, low rates and streamlined application processes.
Flagship is currently accepting loan applications for the Community Advantage program. Visit http://www.flagshipmicroloan.org/community-advantage-express-application/ to apply.
Source: Flagship Enterprise Center