Do you own a small business in the Greater New Orleans area? Are you still in need of financing to recover from post-Katrina losses? If you meet the eligibility criteria listed below, your business may be eligible to receive a $5,000-$15,000 micro-loan from ASI FCU!
If you are interested in applying for an innovative pilot program that will help market your products and services on a local and national level, please contact Sarah Taylor (sarah.taylor@asifcu.com) or Gino Golizio (gino.golizio@asifcu.com) for an application.
Eligibility Criteria
- Business must have been open for at least 6 months prior to Katrina
- OR – FOR START-UP BUSINESSES: Owner must be able to demonstrate industry-specific knowledge gained through past employment, and an informed business plan must be provided
- Business must provide a valid tax ID number (SSN accepted for sole proprietors)
- Business must have 25 employees or less
- Business must be located within a federally-mandated Hurricane Katrina disaster area.
- Borrowers must be low-income persons, falling below 80% AMI, OR must be able to show lack of access to traditional financing
- Borrower must be eligible for membership in ASI FCU: Click here for details on membership eligibility
- Borrower must be able to demonstrate repayment ability, as evidenced by personal or business financials, tax returns, bank statements, receipts, and/or financial projections
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