News release from CANI:
CANI offers Microloans
CANI (Community Action of Northeast Indiana) hopes to help business owners or start-ups expand through its Microfinance Initiative.
The program provides financing opportunities for low-income, small business owners who do not meet guidelines of traditional financial institutions. The loan can be used for working capital, machinery or to purchase another business. Existing business owners are eligible for up to $25,000; $10,000 for start-up ventures and $500 for credit building.
A part of CANI’s microloan program (the Microfinance Initiative) is currently available in Allen, DeKalb, Elkhart, Kosciusko, LaGrange, Noble, Steuben and Whitley counties. Applicants must be at or below 200 percent of Federal Poverty Guidelines.
Additionally, CANI is seeking participants for Foundations, a business-planning course for individuals who want to start their own business or jump-start their current business. The course provides basic tools, information, practice and access to financing and support groups to help achieve that goal. The next course is slated to start on Sept. 12. No income restrictions apply.
For more information about both programs, contact Lending Coordinator Barb Cayce at (260) 423-3546, ext. 257.