What kind of loans does Elmseed offer?
Elmseed offers loans of up to $5000 at a 10% annual interest rate to entrepreneurs in the Greater New Haven community looking to start or grow their small businesses. For a $2000 loan repaid over the course of 13 months, a monthly loan repayment is $162.60. Loan applicants work with our consultants and loan officers to prepare their applications.
What do I need to apply for a loan?
1. A full business plan or executive summary
2. Basic financial projections
3. Proof of income and copies of all pertinent licenses to be submitted with the application.
Completion of these documents is expected within three meetings with loan applicants.
*Note: Elmseed requires that clients personally guarantee business loans.
How can I apply for an Elmseed loan?
Fill out a loan pre-approval form today! Our loan officers are eager to hear from you.