Mofi launches a new loan program to help businesses pivot

MoFi recently launched a new loan program to help businesses pivot, adapt and weather COVID-19 and its effects on the economy. It’s called the Thrive Loan, and it provides working capital for businesses that were profitable in 2019, but due to current conditions, are unable to get the help they need from a bank. 

Features include:

  • Two years of interest-only payments
  • Loans of up to $100,000 with minimum credit score of 650
  • Loans of up to $50,000 with minimum credit score of 625
  • Interest rate 9%
  • No equity requirement
  • Minimal collateral requirements
  • Free consulting services

If you are a business owner for whom the Thrive Loan might be a good fit, please click on the link below where you will learn more about the program, eligibility, and can start the application process.

https://www.mofi.org/thrive-loan/

 

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