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Micro Loan Fund

Grow Wabash County is activating its Micro Loan Fund to help our local business community and Entrepreneurs with a need for small, short term lending.  

Grow Wabash County will be offering Micro loans with the intention of expediting the review process for loan requests on a scale between $500 - $5,000. Loan requests for over $5,000 will be available as well but will be subject to additional terms and requirements through our traditional revolving loan fund program. Due to limited funding available, we will select businesses that we feel will most benefit from this funding on a first come, first serve basis. 

Complete the Micro Loan application here. 

Micro Loan Terms 

Terms:  WSJ Prime Rate, fixed on the date of the origination of the loan as published at WSJ.com or the Daily Wall Street Journal; full repayment not to exceed 12 months. 2% loan origination fee due at the closing of the loan. Personal guarantee required; business and personal. 

Who is eligible: Businesses operating in Wabash County, current on all taxes, and are credit-worthy may qualify. 

Approved uses of funding: To help offset financial startup cost, working capital, and/or purchase capital such as: working capital needs, need capital investments, or other critical business expenditures. 

Process: All interested candidate must fill out the initial online application. If selected, applicants will sign an affidavit verifying their eligibility and confirm that they are current on their taxes. They will also consent to both a personal and business credit check. Upon review, the GWC Loan Committee will make final determinations regarding loan awards, the preparation of loan agreements and documents and the execution of those documents by all parties.