No, the SEED Program participants are eligible for a loan of up to $35,000 based on the character of the participant and the overall business concept.
No, following the completion of the training program all graduating participants are eligible to pitch their business model to the loan committee. The loan committee will determine the funding based on the character of the participant and the overall business model.
No, the SEED Program accepts start-up businesses and existing business owners into the program.
If accepted, participants of the SEED Program are eligible to apply for up to $35,000 of funding from SEFCU. Unlike traditional commercial loans, in the SEED Program the loan decision will be made based on the overall business concept/viability and the character of the individual.
The SEED Program evaluates character prior to acceptance and throughout the course of the program. Key factors in determining an applicant/participants character will include:
Not all applicants will be accepted into the SEED Program and the applicant screening process is designed to select the applicants with the highest potential to be funded at the end of the program. Upon completing the SEED Program Application, all applicants are required to participate in the SEED Applicant Interview and submit their credit report from Credit Karma (instructions below).
The SEED Applicant Screening Committee will meet one week prior to the start of the program to select the applicants to participate.
*** Please note we are unable to fund any restaurants, cafes, bars, day care centers, and pre-schools.
To get a copy of your credit report for emailing from Credit Karma;(Note, Credit Karma is a free service and will not ask you for any payment. Also, this is not a hard pull and will not hurt your credit score!)