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MICRO-LOAN

The mission of the Enterprise for Equity’s Micro-Loan Program is to assist entrepreneurs in our service regions who have graduated from Enterprise for Equity’s business training programs in good standing.  Enterprise for Equity assists entrepreneurs with micro-loans to launch new enterprises, support current businesses, and/or expand existing small enterprises. Our micro-loans range in size from $1,000 to $25,000, depending upon each client’s unique needs.

To be eligible to apply for our micro-loan fund you must first be a graduate of our Business Planning Program.

Please note: Being a graduate does not guarantee that your loan application will be approved. All loans are reviewed, approved or denied by an outside Loan Committee. 

MICRO-LOAN FAQs

What types of businesses can be financed by the loan?

  • Startup, emerging, existing, and expanding businesses

  • Retail, commercial, wholesale, service, manufacturing, agricultural, contractors, or some combination of these

  • Sole proprietorships, partnerships, and corporations

  • For-profit businesses

  • Businesses located in South Puget Sound

  • Home-based businesses as permitted by zoning regulations

  • Legal on the Federal level

What can our micro-loans be used for?

  • Working capital

  • Supplies

  • Inventory

  • Equipment

  • Furnishings and fixtures

  • Debt refinancing (under certain conditions)

  • Business acquisitions

  • Leasehold improvements (ex: interior decorating. Does not include demolition or construction)

What can our micro-loans NOT be used for?

  • Construction or demolition costs

  • Any illegal activity

  • Owner’s draw

  • Golf courses, race tracks, or gambling facilities

  • Any lobbying activities

  • Lines of credit

  • Subordinated liens

  • To pay back another loan or debt owed to Enterprise for Equity

  • Any project that violates Federal, State, or local environmental protection law, regulations, or enforceable land-use restrictions unless the project will result in the curing or removing of the violation.

To learn more about the Micro-Loan Process or to apply (for graduates only), email Beth Henriquez at enterpriseforequity.org.