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 Community Futures Southwest is
a developmental lender offering loans and financial guarantees
to entrepreneurs
operating within our service region. Our mandate is to support
economic development and help entrepreneurs achieve their goals.
As a developmental lender, programs delivered by the corporation are intended
to assist new and growing, viable businesses. Funds are not
provided for:
- Debt consolidation/refinancing.
- Continued operating shortfalls.
- Existing businesses that are challenged due to credit
over-extension.
- Grants and forgivable or interest rate-reduced loans are not
available.
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There is no application fee.
It is required the borrower(s) be 18 years of age, or in the
case of minors, a co-signor may be required. Potential borrower(s)
must declare if they are related to any employee or Board Member.
Loan funding is considered under several programs.
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Following the review of a comprehensive business plan and
cash flow information, applications will be evaluated using
the following criteria:
- Business outlet is located within our service area illustrated
below.
- Anticipated financial viability.
- Responsible management.
- Personal financial or
equity investment.
- Available security.
- Applicant’s credit history.
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| Community Futures Southwest invites new and existing business owners who
have a business or wish to start a business or expand in our service region
to apply for Investment Loans or Guarantees or Equity positions .
This program includes:
- $150,000.00 maximum to any one entity.
- Interest rate established at time of application.
- Amortization based on durability of security.
- No prepayment penalties.
- The borrower pays professional and legal fees.
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| Community Futures Southwest offers a financial
assistance program specifically tailored to entrepreneurs
with disabilities.
This program includes:
- Funds are reserved for applicants having one or more
physical or mental impairments.
- $150,000.00 maximum to any one entity.
- Interest rate established at time of application.
- Amortization based on durability of security.
- No prepayment penalties.
- The borrower pays professional and legal fees.
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 Community Futures Southwest, through its Small Business Loans Program,
can provide small business loans up to $15,000.00 to one particular
business entity. Any potential entrepreneur residing in our service
region can apply through our organization for this funding.
This program includes:
- $15,000.00 maximum to any one entity.
- Interest rate established at time of application to a
maximum of 10% per year.
- Amortization based on durability of security to a maximum
of five years.
- No prepayment penalties.
- The borrower pays professional and legal fees.
- Funds are reserved for applicants acquiring capital assets
or inventory. This program does not accommodate agricultural,
direct selling, or multi-level marketing ventures.
- An SBLA fee of $30.00 is required.
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| Community Futures Southwest understands the
importance of retaining and attracting youth to our communities
and we have lending programs
oriented to young entrepreneurs with promising business intentions. |
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