FINANCING

START HERE Revolving Loan Fund

The START HERE Revolving Loan Fund offers financing to startups and other rural entrepreneurs who are currently unable to get traditional bank financing. As they re-pay loans, they return money to the larger fund for further lending to local entrepreneurs. The loan fund serves west central Missouri and is part of the START HERE Business Acceleration Network’s “Start Here – Grow Here – Stay Here” program.  Participants include self-employed farmers and tradespeople, Main Street retail and services, and niche manufacturers among others.

 

 

Application Information

Contact loan fund manager Lisa Zimmerman for assistance in completing your application.

Phone: (417-770-0209 Email: lzimmerman@wcmcaa.org

Potential borrowers must submit the following information:

Microloan Application (Borrower only) Download

Two forms of identification (One must be a photo ID. For both borrower and co-borrower).

Credit Release form (borrower and co-borrower). Download

Conflict of Interest Disclosure Statement, signed. (borrower and co-borrower) Download

Verification of income, 30 days of paycheck stubs if employed or 3 months of bank documents if self-employed. For borrower and co-borrower.)

Two years of federal tax returns. (Individual and/or business for both borrower and co-borrower)

Three most recent bank statements, all accounts. (Personal and/or business for both borrower and co-borrower)

Proof of on-time rent or mortgage payments for past 3 months.

Business registration documents, including Articles of Incorporation and DUNS if applicable. (Borrower only)

Proposed Collateral -If using a property, submit copy of deed of trust. If using a vehicle, please submit a clear title with no liens. If using equipment or other, please submit itemized list, including value and UCC number, if applicable. Download

Verification of Bank Account -Please Include a voided check OR verification letter with account number and routing number from bank on bank letterhead. (Borrower only.) 

Two personal references with complete address and phone number. Download

SBA Form 912 (Both borrower and co-borrower). Download  

Proof of residence (If present address in not on requested bank statements, please provide utility bill).

Monthly Expense Form (Household expenses, not business.) Download

Business Plan. If available, Otherwise, download and complete the Business Plan Questionnaire. (Borrower only.) Download

 

 

TERMS & PROCESS

A loan committee comprised of local people with interest and expertise in rural business make final loan decisions for board of trustees’ approval. The loan committee takes recommendations from START HERE Revolving Loan Fund staff, who work with borrowers through the application process.

The START HERE Revolving Loan Fund offers:

  • 90 days to 5-year loan terms
  • Loans from $500 to $50,000
  • Interest rates from 4% to 12%, based on risk
  • No penalty for early payoff
  • Flexible collateral requirements. No collateral required on loans less than $3,000. Participants must have, or will establish checking and/or savings accounts.

The START HERE Revolving Loan Fund offers financing to startups and other rural entrepreneurs who are currently unable to get traditional bank financing. As they re-pay loans, they return money to the larger fund for further lending to local entrepreneurs. The loan fund serves west central Missouri and is part of the START HERE Business Acceleration Network’s “Start Here – Grow Here – Stay Here” program.  Participants include self-employed farmers and tradespeople, Main Street retail and services, and niche manufacturers among others.  

Application Information 

Contact loan fund manager Lisa Zimmerman for assistance in completing your application.

Phone: (417-770-0209 Email: lzimmerman@wcmcaa.org

Potential borrowers must submit the following information:

Microloan (Borrower only) Download 

Two forms of identification (One must be a photo ID. For both borrower and co-borrower).

Credit Release form (borrower and co-borrower). Download

Conflict of Interest Disclosure Statement, signed. (borrower and co-borrower) Download

Verification of income, 30 days of paycheck stubs if employed or 3 months of bank documents if self-employed. For borrower and co-borrower.)

Two years of federal tax returns. (Individual and/or business for both borrower and co-borrower)

Three most recent bank statements, all accounts. (Personal and/or business for both borrower and co-borrower)

Proof of on-time rent or mortgage payments for past 3 months.

Business registration documents, including Articles of Incorporation and DUNS if applicable. (Borrower only)

Proposed Collateral -If using a property, submit copy of deed of trust. If using a vehicle, please submit a clear title with no liens. If using equipment or other, please submit itemized list, including value and UCC number, if applicable. Download

Verification of Bank Account -Please Include a voided check OR verification letter with account number and routing number from bank on bank letterhead. (Borrower only.) 

Two personal references with complete address and phone number. Download

SBA Form 912 (Both borrower and co-borrower). Download 

Proof of residence (If present address in not on requested bank statements, please provide utility bill).

Monthly Expense Form (Household expenses, not business.) Download

Business Plan. If available, Otherwise, download and complete the Business Plan Questionnaire. (Borrower only.) Download

 

TERMS & PROCESS

A loan committee comprised of local people with interest and expertise in rural business make final loan decisions for board of trustees’ approval. The loan committee takes recommendations from START HERE Revolving Loan Fund staff, who work with borrowers through the application process.

The START HERE Revolving Loan Fund offers:

  • 90 days to 5-year loan terms

  • Loans from $500 to $50,000

  • Interest rates from 4% to 12%, based on risk

  • No penalty for early payoff

  • Flexible collateral requirements. No collateral required on loans less than $3,000.

    Participants must have, or will establish checking and/or savings accounts.

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