If you are already in business, you may be in need of financial services to some point for expansion, stock or even commercial real estate investment. However, with the limited size of start-up and even lack of collateral, you may end up with no answer from traditional banks. At this time, you can definitely reach out to PACE Business Development Center for help.
Besides the financial workshops and credit building counseling, PACE Business Development Center has been providing various low requirement financial programs with different funding sources and partnerships, which includes funds from Small Business Administration and the City of Los Angeles. Those programs are specially designed for small business owners and business start-ups. Terms are great, and document requirements are usually low. Please visit the following pages as our most recent financial programs:
The HSBC Secured Credit Card program provides business and credit counseling, matched savings grants, and access to the mainstream banking system to those seeking to improve their financial stability. Participants who successfully save $500.00 will receive a $500.00 matched savings grant. The total $1,000.00 is then available for usage to open an HSBC Secured Credit Card.
For those who haven’t built up enough credit history and are unable to get a loan from banks, the Mini-Microloan is designed for them to make the first step towards success. This loan program is sponsored by a local bank partner. The requirements are attainable; clean car title, low documents, and good credit score. This program is also available to small business owners who want to obtain a loan for small working capital or purchasing small equipment.
The processing of this loan only takes 5 days. With qualification satisfied, you can get a loan from $5,000 up to $75,000. Check out the program page to see whether you are qualified.