• Choose from secured, unsecured, and fixed- or variable-rate financing programs
Qualifiers
The owner:
• Must qualify as a minority under the Equal Employment Opportunity Commission (see definitions below)
• Must own and manage at least 51 percent of the business
The business:
• Must have annual sales that do not exceed $15 million
• Must have been in business for at least two years
• Must have borrowing needs of less than $2.5 million
We provide competitive interest rates and flexible underwriting on our loans and lines of credit to minority-owned businesses. With these less-restrictive lending options, we can better provide you with the financial resources to help grow your business.
Minority definitions are those set forth by the Equal Employment Opportunity Commission:
• Black -- All persons having origins in any of the Black racial groups of Africa and not of Hispanic origin.
• Hispanic -- All persons of Mexican, Puerto Rican, Cuban, Central or South American, or other Spanish culture or origin, regardless of race.
• Asian/Pacific Islander -- All persons having origins in any of the original peoples of the Far East, Southeast Asia, the Indian subcontinent, or Pacific Islands. This area includes China, India, Japan, Korea, Vietnam, the Philippine Islands, and Samoa.
• American Indian/Alaskan Native -- All persons having origins in any of the original peoples of North America and who maintain cultural identification through tribal affiliation or community recognition.
