Small Business Loans
Q: What is the Area Five loan program?
A: Area Five has been awarded grant funds from the United States Department of Agriculture. The funds have been used to create a revolving loan pool for small businesses in Cass, Miami, Tipton, Howard, and Wabash Counties.
Q: How much can I borrow?
A: Up to $15,000.00 can be loaned to qualified start-up or existing businesses at a reduced interest rate, currently 6%. Terms are flexible.
Q: How can the funds be used?
A: For a wide range of business expenses, including land development, construction of buildings, parking areas, utility extensions and refinancing.
Q: Who is eligible?
A: Qualified small business start-ups and existing businesses in Cass County that have less than 50 employees and less than $1 million in gross sales.
Q: How does the application process work?
A: Existing businesses must submit financial statements and a 2-page business plan summary. Start-ups (less than 2 years old) must complete business planning classes offered through the Business Solutions Group and provide a full business plan, financial documents including tax returns, personal financial statements and cash flow projections.
Q: How can I get more information?
A: Contact Area Five at 574-722-4451
*Area Five Agency is partnering with The Indiana Commission on Hispanic/Latino Affairs to offer local Hispanic/Latino entrepreneurs and start up business owners a way to receive small loans. We will also provide business training and workshops for those interested. The loan requirements are the same standards that Area Five already implements. These funds are limited therefore, act fast! If anyone in the Logansport area would be interested in this opportunity they can contact Ken Ward of Area Five at (574) 722-4451 ext 270.