"Bringing people & Business Opportunities Together"
Microenterprise * Cottage Industry * Small Business Development
Training * Tecnical Assistance * Lending * Follow-Up Assistance
TRAINING: MicroBusiness Development Workshop: This nine week course will teach you how to develop and manage your small business. In this course you produce a comprehensive business plan. You will also receive a Certificate of Completion that will carry you throughout your entrepreneurial career. Held one night a week for ten weeks each session is from 6:00p.m. – 9:00p.m and are conveniently located in Portsmouth and Hampton, Viriginia.
TECHNICAL ASSISTANCE: CCDI’s Cottage Industry Staff works with you, one-on-one, to help complete your business plan. An advocate to assist you in submitting your loan application to the Cottage Industry Advisory Board (loan committee) will be there also.
LENDING: All loans require some training and assistance from CCDI’s Cottage Industry Staff.
- Micro Loans as low as $500 and up to $50,000 may obtained
- Non-Agricultural Loans for projects up to $50,000 are available for designated rural communities.
- Contract Loans are CCDI’s short-term loans.
Loan Terms –
- Terms can vary from 30 days up to 60 months for SBA loans;
- Terms can vary up to 20 years for USDA loans.
- Most loans will be repaid in equal monthly installments.
- Other terms can be negotiated if unique circumstances require added flexibility.
Loan Approval - CCDI’s Cottage Industry Advisory Board (loan committee) will review all loan requests. A written response to all loan applications will be forwarded to the applicant after a decision by the Advisory Board has been made
Collateral – Lack of collateral will not result in an automatic decline of a loan application. However, if collateral is available and the proceeds of the loan are used to purchase tangible assets they will be used for collateral.
Personal Credit History - Past credit problems will not automatically disqualify an applicant. However current credit problems will be addressed.
Delinquency/Default - In the event that unforeseen circumstances cause slow payments, it is the "Borrowers" responsibility to immediately contact the Advisory Board, through the program administrator or Cottage Industry Specialist.
Delinquency/Default - In the event that unforeseen circumstances cause slow payments, it is the "Borrowers" responsibility to immediately contact the Advisory Board, through the program administrator or Cottage Industry Specialist.
FOLLOW-UP ASSISTANCE – CCDI borrowers receive quarterly on-site visitations and business counseling from CCDI Cottage Industry Specialists for the duration of their loan.
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| Graduates Microenterprise Samll Business Course |
