Communities thrive when businesses launch or expand, but sometimes even the most successful businesses struggle to get the financing they need to grow. MoFi is ready to help. Our business loans range from $1,000 to $2,000,000, and we are flexible around collateral and equity. Loans may be used for a variety of business needs, including startups.
All of our borrowers also receive free, one-on-one consulting services throughout the life of the loan to help build money, marketing, and management skills. These services can include free bookkeeping, employee management assistance, marketing grants, PR support, and business management consulting.
Though no two loans are exactly alike, they include these features:
- Term loans or lines of credit
- Flexible collateral requirements
- Stand-alone & bank-affiliated loans
- Interest rates 2-3% points higher than current bank financing rates
- Fees include closing costs, origination fee and $100 application fee