Program Basics

• Training – CCDI’s MicroBusiness Development Workshop consist of an eight (8) week, 16 hour business plan course.
• Technical Assistance – Work one-on-one with CCDI’s Microenterpise Specialist
• Lending – All loans require training and the assistance of CCDI’s Microenterprise Program Specialists.
  • Term loans - range from $500 up to $35,000 can be secured
  • Contract loans – range from $500 up to $15,000 can be considered based upon contract assignment
  • Participation loans – Multi-party lending between CCDI and another lending institution based on a 2-1, (bank – CCDI ratio) allows financing up to $105,000 for those who qualify
• Loan Terms - can vary from 30 days up to 60 months. However, most loans will probably be underwritten for a term of 12-36 months. Most loans will be repaid in equal monthly installments. However, other terms can be negotiated if unique circumstances require added flexibility.
• Follow-Up Assistance – CCDI microborrowers receive quarterly on-site visitations and business counseling from Microenterprise Program Specialist for the duration of their loan.
• Collateral - it is unlikely that this will typically be available. However, if collateral is available and the proceeds of the loan are used to purchase tangible assets they will be used for collateral.
• Personal Credit History - past credit problems will not automatically disqualify an applicant. However, if the applicant has current credit problems, they will be addressed.
• Loan Approval - CCDI’s Cottage Industry Advisory Board (loan committee) will review all loan requests. A written application response will always be forwarded to the applicant after a decision by the Advisory Board has been made.
• Delinquency/Default - In the event that unforeseen circumstances cause slow payments, it is the "Borrowers" responsibility to immediately contact the Advisory Board, through the program administrator.