VOLT Micro Loan

VOLT Micro Loan Fund: Businesses in Maryland may qualify for a loan of up to $50,000 for expenses such as business expansion, lease-hold improvements, equipment, and working capital.

Loan Requirements

· Flexible underwriting to make capital available to small, woman, veteran, and minority owned businesses throughout the state 

· Companies that have successfully graduated a business accelerator program are highly preferred

· Company must have under $500,000 in revenue and under 10 employees

· Loan priced at 2.00% fixed

· 5-year term (1st year interest only-4-year monthly P&I payments)

· No loan fees or closing costs

· Must be in business for 2 years or working 5 years in the same industry

· Primary business location must be located in Maryland

· Company must be in good standing with the State of Maryland

· Personal guaranty on all owners over 20%

· Guarantors must have a minimum credit score of 600 with all accounts paid up to date

· UCC filing against business assets

· Borrower to provide a breakdown of use of funds to accompany expansion plan with financial projections showing effect of funding to business profitability