OtherMercy Corps Northwest has loan programs for businesses

Mercy Corps Northwest (http://www.mercycorpsnw.org/) is a nationally recognized microfinance organization that has been making small business loans since 2001 to clients in Oregon and Washington. Mercy Corps Northwest provides capital to help small businesses grow, working with business owners who may not qualify for traditional loans.

Under the MCNW loan program:

Loan amounts:

• From   $500 to $20,000 for new businesses

• Up to   $50,000 for businesses in operation for one or more years

 

Repayment terms:

• Two   months to five years

• No   penalty for early repayment

 

Loan fees and rate:

• Fees   1-5%

• Interest   is 8-12% fixed-rate

 

Credit-building potential:

• Reported   to the three credit reporting agencies

 

Use of funds:

• Capital   goods such as equipment and fixtures • Business vehicles

Upgrades   and repairs • Goods and materials for expansion

Additional funding options may be available for businesses located in Beaverton.   Visit mercycorpsnw.org/what-we-do/loan-program to learn more about the loan programs and the eligibility requirements.  Interested individuals should fill out a simple online inquiry form to determine whether to proceed with the application process.   If you have questions about either the programs or the process, please contact Rachel Stein, MCNW Loan Officer – Oregon, at (503) 896-5081.

See attached files for more information about some loan programs that may be applicable to you.

 

Originally posted by Sarena Regazzoni on January 31, 2012

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