Loan Criteria
Loans will be made in amounts ranging from $5,000 to $20,000 (all currency in US Dollars).
General Terms:
- One-year loan at 0% Interest.
- It is expected the loan will be paid off in one year. Penalties will be applied if loan isn't paid off in one year.
- If the loan is not paid back in one year, the company will make quarterly payments beginning on the 1st anniversary of the loan agreement in equal installments based on the outstanding loan balance at the time of the one-year anniversary of the loan agreement.
- Companies awarded loan funds will be required to provide quarterly reports while the loan is outstanding in the form of unaudited financials. A short narrative on how funds have been used to date, including the associated results, will be included in the reports.