High Gear Loan
This lesson is a guide published by Mountain BizWorks.
Read the guideWhat you'll get
Mountain BizWorks, a nonprofit lender in Asheville, describes a fast loan for established WNC businesses; its page currently lists up to $20,000 over three years at 8.75% interest with a 2% fee, a personal guarantee, business assets as security and a decision within three business days. A for-profit firm needs a year of operating history in one of 26 WNC counties, and the page lists the documents to gather first, but check it for current terms before you apply.
Do this week
Check your firm against the page's eligibility list and, if you qualify, gather the documents it asks for, starting with a year-to-date profit and loss statement and three months of business bank statements.