Comments on Funding:
- Funding is a loan of up to $15,000.
- Interest rates on the loans are usually current bank prime rate plus 2% to 6% max.
- Loan repayment terms normally range from 12 to 60 months.
- Upon approval of a new loan, OCLF will charge a one-time due diligence fee of 3% of the value of the loan, up to a maximum of $250.
Applicants must fill out the online contact form if they are ready to apply.
Applicants must provide the following requirements:
- Proof of identity (driver’s license, passport or similar photo identity document);
- Business plan including a two-year cash-flow projection;
- Two References (business or academic contacts only);
- A current resume;
- If applicable, provide business registration document.