Entrepreneurs and small business owners can borrow up to $1500 to purchase equipment, supplies, and services to help grow their businesses. UUMC has offered micro-loans to more than two dozen Central Texas entrepreneurs over the last 5 years, including soulciti. To qualify, applicants must demonstrate a successful business track record (1+ years) or provide a detailed business plan for start-ups.
“UUMC is a Central Austin church committed to expanding economic opportunity. Austin is full of talented entrepreneurs. We want to be neighbors helping our neighbors succeed,” said Janis Monger, Chair of UUMC Community Microlending
There is a streamlined application process, which consists of a short application and a two-step interview. For convenience, loans can be repaid online in $100 increments, and all loan repayments go towards the funding of other businesses.
Austin is full of talented entrepreneurs. We want to be neighbors helping our neighbors succeed,
“UUMC is very genuine about wanting to help small businesses, and they’re deeply invested in the business’s growth,” said William Tatum, previous loan recipient for Divinity: Greek Designs
Here are some examples of how the microloans can be used:
- LuvFats owner Chi Ndika used her microloan to purchase a batch freezer to produce avocado-based ice cream.
- Michael Cunningham expanded targeted social media advertising for Caribreoso Flavour Boutique with his loan funds.
- Naijean Bernard purchased an industrial blender for Jeany’s Caribbean Elixers with her microloan.
If you’re interested in applying for this microloan or would like more information, applications are accepted year-round on a rolling basis..