Union Bank’s Business Diversity Lending Program. Indian Loan Guarantee Program

December 18, 2020 No comments yet

Union Bank’s Business Diversity Lending Program. Indian Loan Guarantee Program

Designed to provide loans to minority companies as much as $2.5 million, Union Bank’s company Diversity Lending program requires minority or females business owners to “own and actively manage at the least 51 % of this business” looking for money. The organization also needs to have already been open for at the very least two years and should have sales that are annual $20 million.

Accion

The nonprofit, community organization Accion provides term loans for minorities which range from $300 to $1,000,000 both for founded and businesses that are new. While Accion doesn’t solely fund minority-owned ventures, over 60% of the borrowers result from minority communities. Fixed rates range between 7% to 34% APR depending on your credit rating, and also other criteria.

The National Minority Supplier Developing Council Business Consortium Fund

Certified by the U.S. Department regarding the Treasury as being a Community Development standard bank, business Consortium Fund (BCF) works to make funding more accessible for minority business owners through many different programs.

Through their Direct Lending Program, minority business people can borrow anywhere from $75,000 to $500,000 through the BCF. This is lent in the shape of either a phrase line or loan of credit.

To meet the requirements, you need to approve your online business being a minority company through the National Minority Supplier Development Council (NMSDC).

Continue Reading


Find Me On

 Subscribe in a RSS reader

Enter your email address:

Delivered by FeedBurner

Categories