Microloan Program Frequently Asked Questions
How long does the application process take?
The application process takes approximately two weeks from
the time that a complete application package is received.
How long does the closing/funding process take?
The closing/funding process takes approximately two weeks
from the date the loan committee approves the loan.
What is the interest rate?
The interest rate is fixed for the term of the loan and
is based on a set percentage above prime.
Where can I get help with writing a business plan and preparing
financial projections?
The Small Business Development Center provides free technical
assistance for small business entrepreneurs in writing business
plans and creating financial projections. Their contact number
is 573-882-7096.
Enterprise Development Corporation would like to thank the following organizations for their support of small businesses and for their contributions that made this microloan program possible:
Regional Economic Development, Inc. |
