Direct Loan Program

Established small businesses can get capital for their business through PE's Direct Loan Program.

Is the Direct Loan Program right for me?

• Has your business been in operation for 3 years or more?
• Is your business registered?
• Do you keep ledgers and have tax records?
• Do you lack the credit or collateral necessary to get a loan from a commercial bank?
• Do you need between $5,000 - $12,000 to expand your business?

If you answered YES to ALL of these questions, the Direct Loan Program may be right for you!

Features

• Loans ranging from $5,000 - $12,000
• Flexible loan terms with monthly repayment schedule
• Entrepreneurs with low credit score not ruled out
• No group commitment

Benefits

• Larger loan amounts and less requirements than Peer Program
• Fast decision - less than 4 weeks after completed application received
• Opportunity to network with other business owners
• Ongoing quarterly technical assistance from PE staff
• Access to PE partnerships including business counseling, credit unions, pro bono legal services
• Connection to like-minded entrepreneurs

How do I get started?

• Complete the pre-loan questionnaire and credit report form
• Return both forms to michellee@projectenterprise.org or fax to Michelle Eames at 212-678-6737
• After receiving this information, PE will contact you within one week
• You may be invited to schedule a meeting with a Project Enterprise loan officer. At this meeting, you should bring the business record and tax information, as well as your bank statements.
• After reviewing these documents, Project Enterprise may invite you to submit the full application.
• Project Enterprise staff is available to meet with you and assist you in preparing the application.
• Decisions are usually rendered within 4 – 6 weeks of submission of the completed application.

Note: The pre-loan questionnaire and credit report form are in Adobe's Portable Document Format (.pdf). You will need Adobe Acrobat Reader to view it and fill in the forms.

For more information contact Michelle Eames 212-678-6734 ext. 19 or email michellee@projectenterprise.org