women$finances

micro-loan program

Steps to take:

1. Attend Starting Smart | New Client Orientation or contact Karen Bente to discuss your qualifications.

2. Meet with a counselor to discuss your plans. If you have the basic qualifications, we will be available to assist you in completing the micro loan application including your business plan. You may be recommended to the BrassTacks© Business Basics class other resources to obtain training or assistance in developing a business plan.

3. Submit your loan application and business plan for reviews and revisions (this can take a number of visits...don’t be discouraged!).
Download the MicroLoan Application Packet

4. Submission for approval. Once the loan package (including the business plan) has been completed and reviewed by the Program Director, it is sent for approval to the Micro-Loan Advisory Committee, which makes a recommendation to the YWCA Board of Directors. The final approval is made by the YWCA Board of Directors.

Note: Completing the Business Plan and the application ensures that the applicant has a loan package of high standards but it does not guarantee that the applicant’s loan will be approved by the YWCA Anchorage or any other lender. This entire process may last as long as 8-10 weeks and is extremely dependant on the number of revisions your business plan requires. The Loan Committee meets on an as needed basis and the Board meets monthly.

All recipients and applicants have access to the business counseling support of the YWCA women$finances staff and are encouraged to gain additional skills in marketing, accounting and networking by attending classes or participating in other available programs.