May Coalition
Community Services Non Profits
Why pick this one
MAY Coalition provides locally decided business loans up to $250,000 for qualifying businesses creating employment opportunities.
Best for
- Businesses creating full-time, non-seasonal employment opportunities
- Low- to moderate-income business owners seeking up to $25,000 for income-enhancing investment
- Applicants seeking financing without an application fee or loan points
- Businesses needing larger loans with potential terms up to 15 years
Look elsewhere if
- Applicants needing a guaranteed loan approval timeline
- Applicants unable to provide two years of tax returns, a personal financial statement, and a business plan
- Applicants seeking a government agency rather than a nonprofit lender
Specialties
- Business loans for job creation
- Loans for low- to moderate-income business owners
- Business investment loans up to $25,000
- Job-creation loans up to $250,000
- USDA Rural Development long-term loans
What makes them different
- Loans can reach $250,000 for qualifying businesses that create full-time, non-seasonal jobs
- Loans for low- to moderate-income business owners can reach $25,000 without necessarily requiring new job creation
- No application fee and no points are charged
- Loan decisions are made locally by a volunteer board
- Larger loans may have terms up to 15 years and must meet USDA Rural Development requirements
- Response time
- There is no set time frame for the loan approval process.
Distilled from this business's own website.
Contact & Location
- Address
- 169 Locust St, Spruce Pine, NC 28777
- Phone
- +18287658880
- Website
- http://www.maycoalition.org/
Services
- Small-business financing
- Business investment loans
- Job-creation financing
- Online loan payments