Non-traditional Funding Resources
Don’t want to take out a loan? There are other ways to find funds.
Crowdfunding – Don’t know what “Crowdfunding” is? Read this!
Kickstarter – Kickstarter is a funding platform for creative projects.
Indiegogo – At Indiegogo you’ll find a welcoming, supportive community that embraces collaboration, fearlessness and authenticity.
SBA Express Loan
Who is Eligible?
All SBA eligible businesses and/or borrowers
- Loan is fully amortized with no access fees per transactions
- Automated process provides fast turn-around time
- Loan amounts of $5,000 to $50,000
- 7 year term – Fully Amortized
- Collateral may not be required
- Variable Interest Rate based on Wall Street Journal Prime, adjusted calendar quarterly:
- Loans of $ 5,000 – $25,000 at Prime + 4.75%
- Loans of $26,000 – $50,000 at Prime + 3.75% – 4.75%
- Loans of $51,000 – $100,000 at Prime + 4.5%
- $525 packaging fee – deducted from loan proceeds.
- SBA Guaranty fee of 2% of the guaranteed portion (85%) of the loan will be deducted from the loan proceeds
- Loan payments automatically drafted from the business checking account at your established financial institution
- No prepayment penalty – 21 day payoff notification required
- Technical Assistance Included – borrowers receive pre-and post loan closing management and technical assistance