Loans

Eligibility Criteria

Businesses must meet several criteria in order to qualify for our Micro Loan program. Please read through these criteria carefully before completing a loan application.

Type of Business

Existing and start-up manufacturing, retail, wholesale and service businesses having five employees or fewer at the time of application and generally meeting the definition of small businesses. Owners must have incomes below the Barnstable County Area Median Income, in accordance with Federal definitions.

Location of Business

The program provides assistance to small businesses in Harwich, Chatham, Brewster, Orleans, Eastham, Wellfleet, Truro and Provincetown.

Jobs Creation Requirement

The business must demonstrate the potential for job creation, including jobs which would be available to low-to-moderate income individuals. Jobs creation will be monitored by the CDP semi-annually.

Management Capacity

The business must demonstrate management capacity and/or willingness to utilize CDP provided technical assistance throughout the life of the loan, if necessary.

Use of Funds

Micro lending funds from the Community Development Partnership can be used to finance any customary capital or operating needs of the business with the exception of:

  • Payment of delinquent taxes
  • Product development costs
  • Organizational costs
  • Debt refinancing
FinancING Gap

The business has to demonstrate the need for loan funds to fully finance the business operations.

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