"I loved the financial part, it really gave me a handle on my business. Gave me direction and focus."
- Elizabeth James
Interested in Applying for Financing?
CIC offers two microloan products:
1. CIC Loans: Microloans of up to $35,000 to both graduates of our Entrepreneur Training Workshop and to existing businesses.
2. KivaZip Loans: CIC is a trustee of Kiva Zip and endorses entrepreneurs to crowd-fund their loans on their web site. Loans are two year terms and interest free. Entrepreneurs may borrow up to $5,000 in the first stage and up to $10,000 in the second stage.
Businesses must meet at least one of the following criteria to be eligible to apply for CIC microloans
- Have graduated from CIC’s Entrepreneur Training Workshop
- The business has been operating for 6 months and is able to provide financial statements and a business plan
Terms range from 1 to 5 years based on the history of the business and size and purpose of the loan.
Payments must be made through automated clearing house (ACH).
Interest Rates and Fees:
Our starting interest rate is currently 9.75% (beginning in April, 2015). Discounts to the starting rate are available based on the following:
- Being a graduate of our Entrepreneur Workshop (2 percentage points)
- Having a co-signer on the loan (1 percentage point)
A CIC Entrepreneurship Workshop Graduate with a co-signer on the loan is eligible to borrow at 6.75%.