The Business Cares Microloan Fund is being established to support entrepreneurs from lower economic backgrounds who have viable business ideas but lack
access to traditional financing. Through affordable loans and comprehensive support services, we help these entrepreneurs turn their visions into reality, creating jobs and strengthening local economies.
Our microloan program goes beyond financial assistance. We recognize that successful businesses require more than capital—they need knowledge, guidance, and networks. That’s why we pair our loans with a structured mentorship program that provides recipients with the tools and connections they need to thrive.
By supporting entrepreneurs who traditional financial institutions might otherwise overlook, we are helping to create more inclusive economies and empowering individuals to build better futures for themselves and their
communities.
Loan Details
● Interest Rate: 9% fixed rate
● Payment Structure: Interest-only payments during the first year, followed by amortized payments for the remainder of the term
● Loan Amounts: Maximum of $30,000, with most loans under $10,000
● Term Length: Maximum 6-year terms, with flexibility based on business needs
● Eligibility: Focus on entrepreneurs from lower economic backgrounds with viable business plans
● Use of Funds: Working capital, equipment purchases, inventory, and other legitimate business expenses
Microloan Fund Program
Application Process
Mentorship Program
All microloan recipients participate in our mandatory mentorship program, which includes:
● Monthly meetings with experienced business mentors
● Access to specialized expertise in areas such as marketing, finance, and operations
● Peer learning opportunities with other loan recipients
● Workshops and training sessions on key business topics
● Networking events with potential customers, suppliers, and partners
Rodrigo, a dedicated single father of a 9-month-old daughter, is the first recipient of a Business Cares microloan. With remarkable determination and entrepreneurial spirit, he has established a small business that needs additional capital for sustainability and growth.
Fund Development
The Microloan Fund is sustained through a combination of:
● Repaid loan principal and interest from successful borrowers
● Donations from businesses and individuals who support entrepreneurship
● Grants from foundations and government agencies
● Annual recognition dinners that celebrate the achievements of loan recipients
Business Cares is a 501(c)(3) non profit organization