Micro Revolving Fund
    The purpose the Micro-enterprise Revolving Loan Fund is to establish and create job
    opportunities for small businesses in all sectors of the local economy. We provide
    access to loan funds and stimulate small business development activity, through start-
    up and expansion projects.

    The program targets businesses that create and retain job opportunities, for low to
    moderate income residents. Types of eligible businesses will include manufacturing,
    retail, service, tourism, and agriculture.
Micro enterprise is a type of small business that is defined as a business having five or fewer employees and a seed
capital of not more than $35,000.  Because micro enterprises typically have little or no access to the commercial
banking sector we've created a revolving loan fund to meet the needs.
           Eligibility Criteria

Businesses having five (5) or fewer
employees including the owner(s)
Cash equity participation of at least 10%
of the total project costs.

Microenterprise business owners must be
income-eligible or plan to create jobs that
will be held by income eligible individuals

Must have an acceptable business plan,
CPA and legal counsel.

Must consult with business assistance
organizations such as SCORE or private
consuting advisors.
           Rates and Terms

A loan amount may not exceed fifteen
thousand dollars ($25,000) plus any
amounts provided for technical assistance

Amounts provided for technical
assistance , and will not exceed 40% of
total project costs, whichever is less.

Terms may not exceed six (6) years

Loan-to-Value may not exceed ninety-
seven percent (90%) or debt service
coverage of  1.05x

Generally, loans will carry a fixed interest
rate of 60% of the prime
For more information contact S.A. Hackley
Email: S.Hackley@plansandcapital.com
Phone:   Texas -  210.900.0937
Washington DC - 202.817.1925
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