SBDC East LA Initiative is offering a new loan program – Jump Start to Wealth- which provides loans from $500 to $10,000 targeted for small business owners in underserved and low wealth communities.

These loans can be used for start-up and on-going costs, inventory, acquisition / lease of real property, buildings, machinery and equipment, construction / repair of buildings, tenant improvements and Jump Start fees.

To be eligible, small business owners must have a small business located and licensed in a low wealth community in the state of California to be able to show repayment ability. The maximum term is 5 years fully amortized. iBank provides the funding while PCR makes the loan decisions and disburses the loan proceeds.

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