SMALL BUSINESS LOAN FUND 

 

The Small Business Loan Fund provides capital to small/micro businesses impacted by current and existing economic variables within South Western Pennsylvania. Community Growth Fund’s (CGF) focus is to assist businesses with loans to recapitalize and replace accumulated high-cost debt, provide working capital, inventory, and equipment to restore operations and income.  

Community Growth Fund supports our clients over the long term for stability and growth. CGF provides technical support and work jointly with regional financial institutions and other technical assistance providers with an eye on sustainability as the business evolves. Our goal is to equip businesses with the tools and resources to preserve equity, retain employees and build personal and community wealth.  

Loan Eligibility and Requirements 

Our focus is to assist and provide loans to urban and rural small/micro businesses with sales under $1 million. We offer loans to start-ups and existing businesses. 

 

Loan Amounts, Rates, Fees, and Key Terms 

• Loans range from $5,000 to $50,000 focusing on minority and women owned small/micro businesses (we partner with other community-based institution for larger financing needs). 
• Fixed interest rates starting at 8%. 
• The maximum loan term is 36 months. 
• Loan proceeds must be specifically utilized for one or more of the following purposes: 

• • business development and/or expansion 
  • purchase of inventory, materials, supplies, equipment, tools, furniture and/or fixtures 
  • remodeling expenses 
  • working capital – including rent, utility deposits, advertising, insurance, licensing, bonding, legal and accounting fees. 
  • credit consolidation and refinancing. 

• Loan proceeds may not be used to refinance existing personal debt, or to pay personal or business taxes. 
• All loan recipients must submit business financial statements (or other suitable financial records) at regular intervals, as determined by the terms of each individual loan. 
• A minimum of one-year cash flow projection and a demonstrated capacity for repayment. 
• One-year cash flow projection.