WE-Lend: Loans and Financial Education
The Women’s Business Center is an alternative lending organization that offers loans and financial education to small business owners.
The Women's Business Center now offers microloan products to support women-owned small businesses in the Kansas City metro area. Each loan recipient will receive structured technical assistance support in the development of their business and access to a Financial Coach.
WE-Lend Micro Loan Products
We offer loans of up to $25,000 for existing businesses, including loans for start-ups, with a special emphasis on women-owned businesses.
WE-Lend micro loans include:
- Fixed interest rate
- Term loans, up to 5 years
- No pre-payment penalty
- One-time commitment fee plus collateral filing fees
- Loans must be secured by collateral or guaranteed by a qualified co-signer
Who can apply?
WE-Lend loans are for businesses in service, retail, wholesale, and manufacturing industries. Non-profit organizations and businesses involved in real estate development, exporting, multi-level marketing, adult entertainment, or lending are not eligible.
What can WE-Lend loans be used for?
Our loans can be used for purposes that will help start or grow your business, including leasehold improvements, Inventory, supplies, working capital, and machinery and equipment purchase. Debt refinance, tax payments, and thepurchase of real estate are not eligible loan purposes.
How to apply:
Do you operate your business in the Kansas City metro or surrounding areas?
Do you currently have enough income (from personal or business sources) to cover all of your personal expenses with funds left over each month?
Are you prepared to offer collateral for the loan (personal assets such as a home, car, or savings)?
Are you current, with no bills past due, on all active personal and business bills?
Are you and your business free of outstanding tax liens, bankruptcy. and delinquent child support?
If you have filed bankruptcy, has it been discharged for at least a year?
Are all business partners with 20% or more ownership prepared to be co-borrower on the loan with you?
If you are starting a business, do youhave a business plan with a budget and cash flow projections?
Have you invested savings or personal equity in your business totaling at least 10% of the loan you are requesting?
Not sure if you qualify? Give us a call at (913) 492-5922.