Many individuals would like the opportunity to own their own business and realize the “American Dream.” However, it is nearly impossible for immigrants or refugees to access the capital necessary to start their own business. A commercial loan is challenging to qualify for, and many do not possess the credit history, credit score, collateral, and personal equity to invest in their business. As a result, most are unbankable to financial institutions.
Through training, technical assistance, and capital, we can assist refugees in becoming self-sufficient, assist in developing a credit history by reporting our loan payments to the credit bureaus and in repairing their credit scores. AIM provides one-on-one consultations, business plan preparation, technical support, access to business credit, and post loan technical assistance to program participants.
AIM offers microloans for up to a 3-year repayment term for working capital, inventory, machinery, fixtures, tools, supplies, furniture, and building renovation. Interest rates charged on our loans are very reasonable and currently at 4% over the prime lending rate.
After repaying their loans, recipients own their collateral, reduce overhead, and can further grow and strengthen their businesses.
Jeff Currie at (727) 893-1313 Ext# 161