Community Futures Huron helps Women Entrepreneurs follow their dreams of small business ownership by providing Rural
Women in Business Loans that assist with new business startup or expansion plans.
Rural Women in Business Loan Fund
You can apply for up to $250,000 to start or grow your business. The loans have very flexible amortization and repayment terms. We offer free assistance with the application process and business plan development. Your business must fall into our geographical area. The funding is given based on the strength of the business plan. Our local community Board of Directors reviews loan requests once a month.
Business Plan Template
Download the Rural Women in Business, Business Plan Template.
Women in Business Facebook Group
If you are a business owner or are thinking about starting your own business, you are welcome to join our Women In Business Facebook group and participate in any discussions that may interest you.
* The Business Loan Application Process Step-by-Step
- Applicant completes the online application and uploads their completed Business Plan, past financial statements, 12-month cashflow projection and two pieces of ID.
- Documentation is reviewed by the Lending Consultant.
- Lending Consultant and applicant have discussions to clarify points in business plan or application as needed.
- If it is recommended to the Community Futures Huron Board of Directors for approval, Community Futures Huron will complete a credit check.
- Application is presented to the Community Futures Huron Board of Directors for approval.
- If approved, a Letter of Offer is extended to the applicant for signature and return to Community Futures Huron.
- Funds are normally made available within 2 weeks after the Letter of Offer is returned to Community Futures Huron.
Costs
- There is a 2% loan development and maintenance fee (to a maximum of $2,000) that is paid up front after the loan is approved.
- Applicants are responsible for all legal costs to complete the loan securitization package. These funds can be paid for from the proceeds of the funds to be borrowed.
Loan Information
- Maximum loan size is $250,000.00 to be used for the purchase of fixed assets, leasehold improvements, inventory, expansion, start-up or working capital or a combination of any along with some consolidation.
- Flexible repayment terms and no prepayment penalties.
Need Help?
If you get stuck in the application, just contact Tina, and she’ll help to get you on track.
