MetroAction Announces New Program to Help Credit Challenged People Start Small Businesses
MetroAction recently announced a new option for credit challenged start-up and existing small businesses with the launch of its STEP loan and mentoring program. This unique program offers increased hope to financially underserved entrepreneurs seeking small business loans during a nationwide credit crunch.
How it Works:
MetroAction helps credit challenged small business owners who cannot access traditional bank credit get the loans needed to start or grow a small business. Loans provided within the STEP loan program range from $250 – $2,500 (MetroAction lends up to $75,000 from a general loan fund). Qualified individuals may apply for a STEP loan which offers low closing costs, fixed interest rates and a built in mentoring support program. The program was created to provide an alternative for financially underserved individuals who have decided to become their own boss and start businesses, but who need a small “starter” loan to take the next step.