Sometimes you just need a little cash, fast. You might need it to fix equipment, buy more supplies, get more marketing, upgrade your storefront, build a better website, adapt to new pandemic regulations, and the list goes on…
But, it can often be difficult to get just a small loan from traditional lenders. And, right now, you may not need or be able to afford a large loan.
That is why Prestamos CDFI has introduced the Mini-Microloan product!
The Prestamos Mini-Micro is a fast-tracked small business loan geared towards supporting small businesses in need of working capital up to $5,000. Rates are as low as 7% and terms up to 36 months depending on circumstances. A minimum FICO score of 600+ with no open collections, 1+ years in business, and an explanation of how the business is adapting to COVID restrictions are required as part of the application process.