SOHO Loan Program

The Small Business Center is a technical assistance site for the SOHO (Small Office/Home Office) Loan Program, a project of Innovative Bank and the US Small Business Administration. Small business owners may apply for a Community Express Loan of $5,000, $10,000 or $15,000. This service provides financial assistance and capital access, in addition to technical assistance to the underserved segment of the small business community. It is designed to increase lending to geographic regions generally comprising low and moderate income (LMI) areas. It is also designed to assist women, minorities, and veterans with their business endeavors. Loan proceeds must be used exclusively for business related purposes including working capital, and the owners, partners and/or principals must be of good character.

The loan includes the following features:

• A seven-year term
• No pre-payment penalty
• Minimal paperwork (business plans, tax returns and financials are not required)
• Technical assistance

Contact the Center Milele Archibald