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1. Will these be fixed monthly payments?

Yes. Payments will begin 120 days after dispersal.  

2. Can I repay the loan early?

Yes. The loan may be paid in full anytime throughout the 36-month loan period. There is no penalty for early repayment.   

3. Are loans only for $6,000, or can I request any amount up to $6,000?

You can apply for a loan up to $6,000. 

4. Are there limits to what this money may be used for?

Yes. Eligible Expenses include existing machinery & equipment payments, payroll, rent, utility expenses, insurance payments. Ineligible Expenses include new purchases and new debt. Other sources of funds and the application of use will be considered in the loan processing. 

5. I am a franchise owner, is this $6,000 per location or per business owner?

Sorry, the loan is per business, not location.  

6. Does receiving this loan make me ineligible for any other form of relief program?

No. We encourage Green businesses to apply for all Federal, State and regional loan and grant programs that may benefit your business. See our resource page for details on programs available.  

7. Is there a minimum number of employees, I must have to qualify for this loan?

No. This loan program is available for sole proprietors as well as businesses with any number of employees.  

8. My business is just outside Green’s city limits, but I live in Green. Does my business qualify?

Sorry, but the business must be located within the City of Green.  

9. I originally requested $2,000, but now realize I need to borrow more. Can I submit another loan request?

We encourage you to ask for your maximum needs up to $ 6000.00 

10. How long will it take to receive my loan?

The goal will be to review and respond within 20 days. 

11. What information is required to apply?

Please visit the Green CIC’s Webpage and request the loan application.  You will be sent a secure e-mail and instructions on how to submit your application securely. 

12. What is the interest rate after the 36-month period?

The interest rate is zero percent. 

13. Are there closing fees?

No.