APPLY FOR A MICROLOAN
TORY BURCH FOUNDATION FUND MICROLOAN
Accion East and Online and The Tory Burch Foundation have partnered to provide business loans and mentoring to women entrepreneurs. The Tory Burch Foundation loan product ranges from $500 to $50,000 and offers flexible cosigner requirements and competitive, fixed annual interest rates starting as low as 8.99%.
Imagine that you had …
A $500 microloan to establish and grow your credit score
$1,500 to help buy new software or update your website
$6,000 to cover trade show or craft show fees showcasing your product to vendors
$15,000 to purchase inventory for your business
$20,000 to purchase equipment, turning your catering business into a restaurant
$35,000 or more to hire new employees and grow your business
Is your credit score higher than 525?
YES
You are ready to apply for a microloan.
To apply, click here or call a Tory Burch Foundation Loan
specialist at 866-245-0783.
NO
We can still help! We can provide you with a consultant to work with you one-on-one and provide you with the tools needed to improve or repair your credit.
Email: TBFservices@accionusa.org
MICROLOAN PRODUCTS:
- Business Loans up to $50,000 for established businesses
- Emerging Business Loans up to $30,000 for businesses that have at least six months of operating revenue but are not yet profitable
- Transition Business Loans up to $30,000 for the purchase of an existing business or a change in business location
- Sprout Business Loans up to $5,000: for startup, home-based and internet businesses with less than six month of revenue
Loan Requirements:
- Credit score of 525 or higher
- Sufficient cash flow to comfortably support monthly loan payments
- Less than $3000 in past due debt
- No bankruptcies in the past 12 months or foreclosures in the past 24 months
- No late payments on your rent/mortgage in the past 12 months
- You own fewer than four mortgaged properties
Note: Additional security may be required depending on strength of application.
Additional Requirements for Sprout, Emerging and Transition Business loans:
- A qualified cosigner may be required
- A market study and 12 months of projected financials may be required
- If the business is not yet profitable, a borrower must have external income that is fully able to support
the loan
Rates, Fees, and Terms:
- Competitive annual interest rates from 8.99%
- No prepayment penalty
- 3-5% closing cost (minimum of $100) and a $30 application fee will be financed into approved
loans process
To apply for a loan through Accion, please visit www.accionusa.org/ToryBurch using the pin number 1134.