Desert Hot Springs Microloan, Inc. is a non-profit organization started to help small business owners with affordable financing. It’s difficult for early development companies to get loans from banks and large credit institutions, especially small loans at affordable rates. This is a financial service that businesses in our community desperately needs.
The fund is designed to provide small loans at little or no interest rate through a quick approval process. Loan approvals will be determined by the board members after an interview with the applicants. The board will take into consideration the applicant’s need and intended use of funds, credit worthiness, the state of the existing business and the business plan moving forward.
There are many entrepreneurs in Desert Hot Springs and with the support of our micro loans, it is our belief that we can provide the extra boost to guide businesses past the barriers of start up costs into the next phase of running a sustainable operation that will provide beneficial services to the community, give rise to ancillary businesses and promote economic momentum.