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Fast Track to Lending

The Small Business Loan Fund,  offered through Lean Rocket LOCAL in partnership with American 1 Credit Union, is a dedicated initiative aimed at providing essential capital to entrepreneurs seeking to elevate their businesses to new heights. This fund is specifically tailored to support ventures that have already established their operations and are poised for expansion. The allocated funds can be utilized for various critical aspects of business development including real estate acquisition, procurement of equipment, expansion efforts, and bolstering working capital.

Eligibility Requirements

  1. Operating Business with Revenue: Applicants must be the proprietors of actively operating businesses with an existing revenue stream.

  2. Location: The business should be situated within the geographical confines of Jackson, Lenawee, or Hillsdale Counties in Michigan.

  3. Demonstrated Need and Impact: Applicants must articulate a clear need for capital infusion and substantiate the anticipated positive impacts on their business.

Application Process

  1. Initial Consultation: The journey begins with a meeting with Lean Rocket LOCAL where entrepreneurs can explore the potential of the loan fund and receive expert guidance.

  2. Documentation and Planning: Entrepreneurs are required to assemble the necessary documents and comprehensive business plans that elucidate their growth trajectory.

  3. Application Submission: The completed application package, along with the requisite documentation, is then submitted for review.

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Loan Details

  • Funding Amount: Up to $250,000, enabling businesses to embark on significant developmental strides.

  • Fixed Rate: Ensuring stability and predictability in financial planning, the loan features a fixed interest rate.

  • Term Loan: Structured as a term loan, providing businesses with a well-defined framework for repayment.

  • Variable Interest Rates: The interest rates are contingent on prevailing federal interest rates, aligning the loan’s cost with broader economic conditions.

  • Use of Funds: real estate, equipment, bridge or working capital for expansion.

Ready to fast-track your lending journey? Seize the opportunity and take action today! Join the Fast Track to Lending program and supercharge your financial future.
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