Lawrence Community Loans
As a founding member of the Lawrence Venture Loan Fund, we co-offer small business loans to Lawrence businesses that can’t currently access financing from a traditional bank or credit union lender.
As a loan recipient, you’ll also benefit from additional technical assistance from Nectar and other partners in our small business coalition.
Details
- Amount: $5,000 to $100,000
- Terms: 1 to 5 years
- Interest Rate: Fixed, 3 points above WSJ Prime Rate at the time of loan closing
- 1% Closing fee
- No Application Fee
The Lawrence Venture Loan Fund is capitalized by 11 financial institutions, which have committed $100,000 each to create a $1.1 million fund for local lending. Essex County Community Foundation supports loan loss reserves to offset the risk of the loans, and Nectar administers the loans and the program alongside the Lawrence Partnership. The Lawrence Venture Loan Fund Members are:
Interested in applying for a Lawrence Community Loan?
We’re here to help. Contact the Nectar Small Business Team to learn more about our loans and how we can help.
