Nevada Microenterprise Initiative (NMI) is proud to be an initial participant in Elizabeth Street Capital – a Tory Burch Foundation and Bank of America initiative designed to provide women entrepreneurs in the U.S. with access to affordable loans, mentoring support and networking opportunities.
These organizations are partnering with community development financial institutions (CDFIs) across the nation such as NMI in Las Vegas, to make affordable loans and other resources available to women entrepreneurs.
CDFIs provide affordable loans to entrepreneurs and other underserved communities to encourage and enhance economic growth and development.
- Seek to start or grow your for-profit business
- Must be a woman owned business
- Business must be located in Nevada
Key Loan Terms
- Loans from $1,000 to $100,000
- 5 years
- Fees: 3 points + out of pocket costs
- Interest rate: 9.75% or less
- Collateral must be provided from available assets and the personal guarantee of each owner holding a 20% or more interest in the business
What you will need
- A business plan describing the project, including proposed sources and uses of funds, 3 years of financial projections (first year month-by-month and years two and three by quarter)
- Corporate Financial Statements or Tax Returns for previous 3 years
- Current Financial Statements (within last three months)
- Personal Financial Statements and tax returns for previous 3 years of all principals who own 20% or more of the company
- A credit release, authorizing VEDC to obtain personal and corporate credit reports
- Schedule of outstanding debt
- Copy of mortgage or lease
Our staff is readily available to assist you through the application process including the creation of your business plan and financial projections.
Phone. (702) 734-3555 | Email. firstname.lastname@example.org
Elizabeth Street refers to the location of Tory Burch’s first boutique, the launching pad for a business that has grown into a global brand with more than 125 freestanding stores around the world. The name speaks to the hard work and passion that drive successful entrepreneurial ventures and to the enormous potential of women-owned businesses.
Category: Payday loans