The Growth Loan
Small businesses often find it difficult to access affordable capital with reasonable terms. They’re much less likely to receive an approval than their larger counterparts through traditional banking methods, and as a result, entrepreneurs are turning to other financial options to find capital.
We believe that small business owners are the unsung heroes in communities. Every day, these hard-working entrepreneurs struggle to identify adequate sources of capital to grow their business. Today in America, roughly 80% of small businesses cannot access a loan from a bank, and community banking is down 50% over the past decade. As the primary employers in the United States, a lack of capital stifles both business innovation as well as job creation.
Small-business lending has been stuck in a slow, grinding recovery behind most other types of business and consumer loans. Traditional lending options still lack the flexibility needed to support small business growth.
Our Growth Loan is a character-based loan up to $35,000 for small business owners who cannot access capital through traditional underwriting methods. More than anything, our Growth Loan process is a conversation. Establishing confidence in you, the borrower, is an important piece of the equation. Loan use is flexible including working capital, website improvements, and more. We have built an accessible loan product without the headaches and requirements that are normally associated with the hunt for financing.
Here are some of the features of our Growth Loan:
Grow — We offer up to $35,000 for harder to finance items as well as anything else that a business might need to flourish. Our loans provide small businesses with the capital needed for growth.
Relationships — A personalized review process builds relationships with business leaders that want your business to succeed. We will support your business by providing insight on opportunities to grow rather than focusing solely on a critical evaluation.
Time — We know owners of small businesses have limited free time. Our process will benefit your business along the way, and provides the greatest value and efficiency to business owners needing capital.
Cost — We refuse to offset risk with high-interest rates. Instead, we address risk during the review process through character endorsements and personal interviews. Unlike online services, we provide interest rates that are at or below market.
History has proven that evaluating small and large businesses, in the same manner, limits the flow of capital to these valuable components of our communities. These historical methods of evaluation should not be done away with, however, there’s more to consider than previously thought when it comes to addressing the risks involved with lending to small businesses.
our growth loans
- Arise Career Network
- BAREfit Adventure Training
- Birdgang Brand
- Bellweather Solutions
- Elixir Kombucha
- Entomology Solutions
- Farm to Fork Catering
- Fresh Fry
- Louisville Cream
- Misc. Goods Co.
- Moelicious BBQ
- Oskar’s Slider Bar
- US Chia
- Soul Candy Skincare
- Victory Hemp Foods
If you’re a small business in need of capital, we’d love to hear from you! You can learn more about eligibility and apply at www.growthloan.org. You’ll be contacted by the Louisville SBDC after we determine whether the Growth Loan is right for your situation.