Community Futures Huron Business Succession Loan
$250,000.00
Loan
Description:
Community Futures Huron’s Business Succession Loan is designed to encourage family, employees or third‐party entrepreneurs to consider taking over the business with “going concerns” to ensure they are not lost to the local economy.
Comments on Funding:
Funding is up to $250,000:
– a 2% loan development and maintenance fee (to a maximum of $2,000) that is paid up front after the loan is approved.
Continuous Intake
Eligibility:
Applicants must:
1. be succeeding a business, e.g., family members, employees, or third-party entrepreneurs;
2. be in CF Huron’s service area.
Application Steps:
Applicants must complete the online application form and upload the required documentation.
Documentation Needed:
Applicants must provide/upload the following:
1. Completed Business Plan;
2. Past financial statements;
3. 12-month cashflow projection; and
4. Two pieces of ID.
Other Things to Note:
About the author
Maurice
