MICROLENDING
Microlending Solutions for Small Businesses in Southwest Missouri
We know not every business is a fit for traditional bank financing or private investment. Supercharge Southwest Missouri has compiled information about microlending programs that are available to small businesses in southwest Missouri.
MICROLENDERS
AltCap
Loan Size: $5,000 to $150,000
Rates: Graduated 5.5% – 8.5%
Term: 3 years
Collateral: Required
Credit: Above 600
Service Area: Southwest Missouri
Down Payment: $25 application fee
City of Springfield
Loan Size: $5,000 minimum
Rates: 5% with interest-only payments in years 1 and 2
Term: 12 years
Collateral: Secured, personal guarantees
Credit: No minimum
Service Area: Springfield city limits
Down Payment: Owner equity injection required
Forge
Loan Size: $5,000 to $50,000
Rates: 6.9%
Term: Up to 7 years
Collateral: Required, no real estate
Credit: Above 500
Service Area: Southwest Missouri, statewide throughout Arkansas
Down Payment: None
Justine Petersen
Loan Size: $500 to $150,000
Rates: 7.75 – 9.5%, high risk rates up to 20%
Term: Up to 7 years, no prepayment penalties
Collateral: Flexible, <$3,000 not required
Credit: No minimum, credit building assistance included
Service Area: Statewide throughout Missouri, Eastern Kansas
Down Payment: None
New Growth Capital
Loan Size: $500 to $50,000
Rates: 4- 12% above prime
Term: 90 days – 7 years
Collateral: Flexible, not required for less than $3,000
Credit: No minimum, credit building assistance included
Service Area: Statewide throughout Missouri, Eastern Kansas
Down Payment: None
OzSBI
Loan Size: $5,000 to $50,000
Rates: Prime + 0, Minimum 4.5%
Term: 1 – 10 years
Collateral: Secured, personal guarantees, flexible
Credit: Above 600
Service Area: Douglas, Howell, Oregon, Ozark, Shannon, Texas, Wright counties
Down Payment: $20 application fee