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Allies for Community Business, CDFI Friendly Bloomington outline flexible loans, new $2.25M regional line
Summary
At the Feb. 11 Bloomington Urban Enterprise Association meeting, Allies for Community Business described loan products aimed at underserved entrepreneurs, including revenue-based financing and loans without conventional credit-score requirements, and CDFI Friendly announced a $2,250,000 regional line of credit and a March 5 webinar.
Allies for Community Business and CDFI Friendly Bloomington told the Bloomington Urban Enterprise Association on Feb. 11 that they are expanding flexible lending and technical-assistance options for local entrepreneurs.
Emma Yoder of CDFI Friendly Bloomington introduced the partnership, saying the nonprofit “connects small businesses, affordable housing developers, and child care providers with CDFIs” that provide flexible loans for underserved communities. She announced a webinar with Allies for Community Business set for March 5 at 11 a.m. to explain available products.
Brad McGowan, chief executive of Allies for Community Business, described three core lending products: small-term loans and lines of credit, and…
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