Small Business Micro Loans

Read how entrepreneurs Eric and Naihma Deady
of Bike Commuter financed their small business
with a micro loan.

Mercy Corps Northwest provides micro loans to entrepreneurs looking to start or grow their own small business. If you have a business plan, but don’t qualify for traditional capital, inquire with us! In addition to financing, our borrowers benefit from technical assistance in the form of classes and counseling.

Microloan Terms

• Loan amounts: From $500 up to $20,000 for new businesses
• Up to $50,000 for businesses in operation for more than one year
• Repayment terms: Two months to Five years
• No penalty for early repayment
• Loan Fees: 1-5%
• Interest: 8-12% Fixed Rate
• Credit-building potential: Loans payments are reported to the three credit reporting agencies

Typical uses of small business loans

• Capital goods such as equipment and fixtures
• Business vehicles
• Upgrades and repairs
• Goods and materials for expansion
• Other uses may be considered as well

Mercy Corps Northwest is a Small Business Administration Intermediary Microlender.

We offer more than money to grow your business

• Key advice and mentoring
• Small business classes
• Seminars on key business topics
• Credit repair guidance
• Business financial planning—forms and information

“Mercy Corps Northwest gave me a loan at the worst economic times. If they hadn’t given me a loan, who knows where I would be. Packing Pearls would probably just be an idea, a product stuck on a shelf somewhere.”
- Joanna Guzetta, Four Seasons Container Gardens

     

Mercy Corps NW is funded in part through a cooperative agreement with the US Small Business Administration (SBA) All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.