Grant & Funding Options
- Upcoming Round: January 26 - February 2, 2021
- Small businesses located in rural communities
- A population of 50,000 or less
- Up to $4000
- Completed applications received in January, February, and March will be reviewed in April
- Be a member in good standing
- Demonstrate a business need that could be fulfilled by the grant
- Provide a detailed explanation of how you will use the grant proceeds
- Show how the grant will improve your business growth and success
- Offer supporting documentation such as a resume and business plan
This program provides funding for clean and reliable drinking water systems, sanitary sewage disposal, sanitary solid waste disposal, and stormwater drainage to households and businesses in eligible rural areas.
- Rural areas or towns with a population of 10,000 or less, tribal lands in rural areas, or colonials
- Loan term: 40-year payback period; Fixed interest rates
- Must be in the field of water or waste disposal in an eligible area
- Funds may be used to finance the acquisition, construction, or improvement of:
- Drinking water sourcing, treatment, storage, and distribution
- Sewer collection, transmission, treatment, and disposal
- Solid waste collection, disposal, and closure
- Storm water collection, transmission, and disposal
- Minimum: $100,000
- 3 years of business operations
- A business relationship with at least one NMSDC corporate member
- Positive future business prospects
- The capacity to repay the loan as articulated in a statement of financial condition
- Earnings and cash flow history
- Earnings and cash flow forecast
- Management experience
- Available collateral
Microloans are available through certain nonprofit, community-based organizations that are experienced in lending and business management assistance. Individual requirements will vary.
To apply for a Microloan, work with an SBA-approved intermediary in your area. SBA-approved lenders make all credit decisions and set all terms for your microloan. To find an authorized microlender near you, contact your local SBA District Office.
The maximum repayment term allowed for an SBA microloan is six years
Interest rates: Generally, between 8 and 13 percent
- Each intermediary lender has its own lending and credit requirements
- Up to $50,000
- On average: $13,000
Each intermediary lender has its own lending and credit requirements. Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner.
- A cash grant of $7,500 plus $1,000 toward Halstead jewelry supplies
- August 1st, 2021
Women entrepreneurs specifically in the jewelry industry.