Investment Guidelines
 

Investment Guidelines

  • Loan size: Up to $50,000

  • Pricing: 3% 

  • Loan term: 60 months (5 years) 

  • Uses: Working capital (see restrictions in Program Guidelines)

  • Key requirements:

    • Existing storefront business with at least 2 years of operations (no home-based businesses or virtual businesses)

    • Personal guaranty

    • Positive business operating income

    • No tax liens or judgments against the business entity or owners

    • Must be located in Upper Manhattan

Approval Process

Approval Process

Process.jpg
 

  1. Submit Application

  2. Application Review

  3. Interview with UMEZ Staff

  4. Approval

  5. Closing

  6. Loan Funds Disbursed

How to Apply

How to Apply

Applications for the UMEZ Hybrid Microloan Program are handled online through Submittable. To apply, click the link below. Applicant will be prompted to create a free Submittable account to access and submit the application. 

For a paper submission or questions regarding the program, please email: businessinvestments@umez.org

For more information on the program, including frequently asked questions: Program Guidelines