Recently we sat down with members of Hamilton College’s Microfinance group to talk about microfinance, some of the loans that they give out to area businesses, and how you can apply and qualify for a micro loan through their program.
They are currently accepting loan applications for next semester and most loans are in the $2,000 – $3,000 range. If you have a business that needs funding to get off the ground, to fund an expansion or help with some pressing cash flow, you can email them at firstname.lastname@example.org for a chat.
Microfinance is also a great way for people to dip their toes into entrepreneurship, whether that’s using funds to try to get a minimum viable product created or if you’re just looking to test your idea before taking the next steps. They are loans, not grants and must be paid back, but it’s a great way to help build a credit history with a low interest rate.
Thanks to Ifeoluwa, Sarah, Lisa and Oliver for reaching out to thINC to tell us about their program.