Micro Revolving Loan Program

Cen Cal sees home-based and other emerging business ideas in the rural areas of Fresno County as a powerful way to generate economic growth.

That’s why we developed the Cen Cal Micro-Revolving Loan Program. Our goal is to encourage start-up and fledgling businesses, and women-owned and minority-owned businesses within the Fresno rural area by giving them access to capital at reasonable terms and conditions that otherwise might not be available.

Financing

Under this program, we make loans up to $25,000 to any one, or combination of, affiliate start-up or new businesses for the purpose of working capital and equipment purchases. Exceptions to the loan limit are made on case by case basis. Qualified applicants must have satisfactory credit, sufficient experience in the business they want to start, and a written explanation of the business operation (including cash flow projections), and how they will compete in the market place.

Loan Maturity, Interest Rates and Fees

If the loan is used for working capital the maturity will not exceed 4 years. If it’s used for equipment purchases the loan has a maximum maturity of 7 years. Interest rates are fixed for the life of the loan and will be calculated upon the Prime Rate at the time of funding. We charge a loan fee of 1.5% plus a processing fee of $500.00. As with other loans, these fees may be financed.

Collateral

All assets available – business, personal and assets acquired with the loan proceeds – will be become collateral to secure the loan if available.