|
SOHO (Small Office/Home Office) Loans Program
The Virginia Hispanic Chamber of Commerce is now
offering two (2) Small Business Administration
(SBA) Guaranty Loan Programs through
Innovative Bank.
These loan initiatives combine financial and
technical assistance to enable small and
home-based business owner’s access to business
loans instead of consumer loans. Small business
owners can apply for $5,000 / $10,000 / $15,000.
1 - Community Express Loans assist minority,
woman-owned and veteran businesses.
2 - Express Loans assist all other businesses.
What makes these loan programs different from
most other loan programs?
-
Loan decisions are
not based entirely on credit
-
1 page application
form
-
7 year repayment with
NO pre-payment penalty
-
Interest rate: Prime +
4.99%
-
NO COLLATERAL
-
No business plan is
needed to apply
-
No financial
statements
-
Funding is usually in
3 – 4 weeks
-
Start-up businesses
are okay!
Existing and start-up business owners can get
more information and apply for these loans at a
Loan
Training Session
held monthly at the VAHCC offices. For more
information or to register for the next Loan
Training Session contact
Laura
Sanchez, (804)
378-4099. |
