BDCC Microentrepreneur Lending for COVID-19 Relief Offers 3% Fixed Rate
BDCC’s Rural Microentrepreneur Assistance Program is a USDA program that provides a $400,000 loan to the BDCC that BDCC can then re-lend to small businesses.
In response to the economic impacts our small businesses are experiencing, USDA approved BDCC’s request to lower the interest rate BDCC must charge for this program to a 3% fixed rate.
The loans can range in size from $2,500 to $50,0000 for any business with 10 employees or less, but the business must have employees.
There is no pre-payment penalty for businesses that look to use this funding source as gap financing until other program funds are made available such as federal relief.
Contact R.T. Brown rbrown@brattleborodevelopment.