10,000 Small Businesses
Seedco Financial is a proud partner of Goldman Sachs 10,000 Small Businesses in New York City. The program is designed to help local small business owners create jobs and economic opportunity through greater access to business education, financial capital and business support services.
As a 10,000 Small Businesses partner, Seedco Financial extends affordable loans to qualifying small businesses.
Overview of Loan Program
|
Operating History |
At least one year of operations |
|---|---|
|
Historical Revenue/Budget |
At least $200,000 in revenue in prior year |
|
Community/Economic Development Impact |
Located in low- or moderate‐income and/or underserved communities, and/or Majority-owned by women, members of racial/ethnic minorities, or other disadvantaged groups**, and/or Employ majority of workers from low- or moderate‐income communities |
|
Other Requirements |
100 or fewer employees |
|
Loan Type |
Term loans (lines of credit on a case-by‐case basis) |
|
Eligible Uses |
Equipment financing, inventory financing, leasehold improvements, working capital |
|
Loan Size |
$50,000–$750,000 |
|
Loan Term |
6–60 months |
|
Interest Rate |
8–10% |
|
Application Fee |
$250 |
|
Closing Fee |
3.00% – 3.50% of loan amount |
|
Standard Collateral Requirements |
UCC-1 filing on business assets and key person life insurance |
|
Guaranty |
Personal guaranty required from all principals owning 20% or more |
* Eligibility requirements and terms vary by regional location. Additional eligibility requirements and exceptions may apply
** As defined by the U.S. Small Business Administration
Ready to Apply?
Applications are accepted on an ongoing basis. Please complete our Loan Inquiry Form and submit it to SFSInfo@seedco.org.
Questions? Contact us at: SFSInfo@seedco.org or toll-free at: 877.296.8878.
Learn More
- Visit the Goldman Sachs 10,000 Small Businesses website and watch a video about the program.
- Meet the 10,000 Small Business borrowers.
- Goldman Sachs 10,000 Small Businesses Education Program. The education program is a practical business management education program that helps you develop the skills you need to grow your company. If you are selected to participate, you also will receive a series of one-on-one business advising sessions from dedicated professionals to help develop a tailored plan for growth.
To grow your business, apply now for the Business Education Program at LaGuardia Community College.