Learn the ABCs of Lending!
It’s time to review the basics of small business loans. With MetroAction’s help, it’s as easy as A … B … C!
A = Access to lending! Since 1997, MetroAction has been committed to providing flexible small business loans to start-up and expanding small businesses in northeastern Pennsylvania. MetroAction is one of the only nonprofit organizations in northeastern Pennsylvania authorized to provide microloans to small businesses through the U.S. Small Business Administration (SBA) and through the U.S. Department of Agriculture (USDA).
MetroAction specializes in working with people who cannot borrow from a bank due to lack of business experience, credit history or insufficient collateral. To learn more about all of our funding programs, visit http://metroaction.org/loans.html.
B = Build better credit! MetroAction loans provide an opportunity for small business owners to build or rebuild personal credit history and raise credit scores. As clients make on-time payments on their small business loans, MetroAction reports the payments to the major credit bureaus. This builds positive credit history and increases a borrower’s level of creditworthiness in the eyes of lenders.
If you need help repairing your credit, we partner you with Consumer Credit Counseling of NEPA. Together, we can help you assess your credit and make necessary changes to improve it!
C = Coaching through Smart Start! MetroAction’s Smart Start mentoring program, through an innovative collaboration with SCORE, pairs borrowers with a SCORE counselor for free one-on-one small business coaching. Counselors can help develop various aspects of your business including:
• Starting a business: licenses, taxes, permits, resources
• Business plan development and review
• Financial and cash flow analysis
• Business operations
• And much more!
Full details on our lending and mentoring programs can be found at http://www.metroaction.org/.