The Impact Loan Fund is designed to provide loans of up to $35,000 to graduates of the Core City: Cleveland & Northwest Ohio Impact Programs.
Loan applications are evaluated using the following criteria:
- A clear and compelling vision for how the funding will significantly impact the business and its future growth.
- A meaningful plan for how to leverage JumpStart’s support to make the best use of funding.
- Cash flow projections that show the ability to repay.
Loans will be distributed on a rolling basis until the Impact Loan Fund is fully deployed. As applications are received, they will be evaluated by a small business review committee. Selected applicants will then progress to a short (virtual) follow-up conversation focused on their operating plans, with specific emphasis on the use of loan funds.
Typical loan terms
- 10% Interest
- No payments for 24 months (accrued)
- No personal guaranty
- Six year repayment period
To apply, complete the application below in addition to emailing the supplemental financial projections submission (provided in the email announcing the launch of the fund) to Patty Ajdukiewicz via email at [email protected].
For questions, please also feel free to email Patty or discuss with your existing JumpStart advisor.