The Kansas City Women's Business Center has launched a new microloan fund to provide another alternative lending source for women-led businesses throughout the Kansas City metropolitan area. The new program, entitled WE-Lend, will offer loans of up to $25,000 for existing businesses, including start-ups. The WBC has set a goal of providing 20 new loans before the end of the year.
WE-Lend microloans include:
- Fixed interest rate
- Term loans, up to 5 years
- No pre-payment penalty
- One-time commitment fee plus collateral filing fees
- Loan must be secured by collateral or guaranteed by a qualified co-signer
Who can apply? WE-Lend loans are for businesses in service, retail, wholesale and manufacturing industries. Non-profit organizations and businesses involved in real estate development, exporting, multi-level marketing, adult entertainment or lending are not eligible. What can WE-Lend loans be used for? Our loans can be used for purposes that will help start or grow your business, including leasehold improvements, inventory, supplies, working capital, and machinery and equipment purchase. Debt refinance, tax payments and the purchase of real estate are not eligible loan purposes. How to apply Download the application or contact the WBC for a copy of the full application packet. |
