Isles offers you the opportunity to build your business by providing access to fair and flexible business loan products. Our current business loan products are Microbusiness Loans, designed specifically for start-up and emerging businesses, Opportunity Loans, designed for more established businesses and Energy Efficiency Loans.
Microbusiness Loans: To help you build your microbusiness start-up, Isles provides new business owners with the financial resources and business technical support necessary to succeed. Loans up to $5,000 are available for business start-up or expansion as an alternative to high-interest credit cards. This loan size is ideal for developing businesses looking for an injection of capital for cash flow, unexpected order fulfillment, equipment acquisition, marketing or other business needs. Microbusiness loans often require individualized business consulting with business capital to ensure your venture is primed for success. Collateral may not be required. Loan interest rates range from 3%-10%. Special loan rates of 3% are available to women entrepreneurs who are in the start up phase of their business and who have an income of up to 350% of the federal poverty level.
Opportunity Loans: Loans of up to $15,000 are available for established business owners who have been in business for more than 12 months. Loans up to $15,000, for successful businesses to take advantage of a new profit-making opportunity, start a business in a “green” industry (renewable energy, recycling, environmental services, agriculture, etc.) or add a green product line or service to what you already do. At this loan level personal credit, character and business plans are reviewed. Collateral or owner’s equity is generally required for this loan level. Interest rates range from 3%-10%.
Energy Efficiency and Education Loans: Energy Efficiency and Education loans are available for businesses that are seeking ways to reduce energy use and improve their bottom line. Energy Efficiency loans will help companies become more energy efficient and avoid the impact of rising energy costs. Energy Education loans can be used by individuals or businesses for energy education and certification or to purchase equipment to run a business in the energy field. For example, Energy Education loans could pay for the tuition and certification for a contractor who wishes to receive BPI, NABCEP or other national certifications in solar installation, energy auditing, etc. and then purchase equipment necessary to run that business. Click here for a Energy Efficiency and Education Loans brochure.
Click here to fill out our online business loan application form
For more information about financing your business, please call Peter Rose: 609.341.4731 or email: prose@isles.org