KRBA

211 E. Summit St.
Kent, OH 44240

P 330-474-3595

SBA Microenterprise Loan

The Kent Regional Business Alliance is an intermediary lender for Small Business Administration's Microenterprise Loan Program. This loan is available to clients with businesses located in Ashtabula, Carroll, Columbiana, Coshocton, Geauga, Harrison, Holmes, Mahoning, Portage, Stark, Trumbull and Tuscarawas Counties.

These loans will range in size from $5,000 to $15,000 with $10,000 being the average lending amount. While it is preferred that the loans be for business expansion, we will entertain requests for start-up capital if it is determined the business has a high probability for success.

Complete and submit a loan application to KRBA. There is a $25 fee to applicants to cover administrative costs.

Potential applicants must also meet the following criteria:

Have a credit score of 590 or higher.
Submit a business plan, including (if existing business) tax returns from the previous year as well as appropriate financial statements. New businesses must submit cash flow projections for at least twelve months, break-even analysis, sources and uses of funds and balance sheet.
Receive on-going business counseling from the appropriate SBDC staff.
Receive on-going loan repayment counseling from KRBA and/or partner SBDC staff.