- This event has passed.
Microloan Clinic
February 26, 2019 @ 8:30 am - 9:30 am
The Catalyst Center for Business & Entrepreneurship is proud to offer an additional Loan Clinic in celebration of Innovate Huntsville Week..The Clinic is an indepth workshop where you’ll be guided through the Five C’s of Credit, as well as the types of loans available.
The microloan program is made possible through a strategic partnership with Redstone Federal Credit Union, Neighborhood Concepts, Inc., and The Catalyst.
Microloans in the amount of $5,000 to $25,000 are available for startups, early stage businesses, and established small businesses.
Redstone provides the funds, Neighborhood Concepts makes the loans, and The Catalyst provides loan support services before and after the loan is made.
“Small businesses make up 94 percent of the companies in the Huntsville metro area. Many of these are small shops and start-ups that need immediate access to microloans to stay afloat until the next big order or contract comes through,” said Joe Newberry, president and CEO of Redstone Federal Credit Union. “Redstone is proud to partner with these two non-profits to provide that much-needed funding boost and give these businesses a better chance at success.’’
According to John Thornton, Loan Fund Manager at Neighborhood Concepts, “Neighborhood Concepts has been offering loans for small businesses since 2013. This partnership means much more visibility in the marketplace for our loan fund. We think this is a win/win/win for our organizations, but most importantly for the small business owners and entrepreneurs in this area.”
“There is a gap in funding for startups and early stage businesses,” said Catalyst CEO Joanne Randolph. “This microloan program fills that gap—it’s just what a lot of entrepreneurs need to get started or grow to that next level.”