Underwriting services for the Advance MicroLoan Program supports small businesses Green Bay, WI -- Enlighten Financial, LLC announces an official partnership with the Green Bay Area Chamber of Commerce as the Chamber’s loan underwriter for the Advance MicroLoan Program.
The Advance microloan program is geared toward entrepreneurs, new businesses and small businesses. It's intended to fill a gap for local small businesses and entrepreneurs seeking to create, improve or expand their business opportunities. The microloan program also assists businesses that might not be eligible for more traditional financing due to their small size and/or lack of track record in the market.
Enlighten Financial is providing the underwriting services for these loan requests from the Advance Microloan Program. Enlighten Financial provides a thorough credit analysis of each applicant preceding the granting of a loan. The Enlighten Financial process provides a lower cost solution and quick turnaround for Advance.
“We’re excited to be able to provide this service for the Chamber and to play a role in the small business community,” said Peter Nugent, CEO of Enlighten Financial. “We are especially proud to be a part of a program that furthers economic development right here in Green Bay.”
“The Advance Microloan Program is a progressive microloan program – only one of a few programs like it in the state,” said Advance Program Director, Marianne Dickson. “We are providing loan opportunities to businesses that do not have more traditional financing available, but require capital to continue growing and making an economic impact in our region.”
The program is designed to provide loans from $5,000-$100,000 to start-up, newly established and emerging businesses. Loans can be made only to those businesses which are organized as "for-profit" and are actively managed by its owners. Loans may be used for the purchase of machinery and equipment, inventory and working capital, including payroll, insurance premiums, legal and accounting purposes.
About Enlighten Financial, LLC
Enlighten Financial, LLC, founded in 2008, works with banks and financial institutions to mitigate risk and ensure regulatory compliance by providing Credit Administration Consulting, Commercial Underwriting and Loan Review Services.
Established in 1882, the mission of the Green Bay Area Chamber of Commerce is to promote economic and community development. Chamber programs include Advance, the economic development arm of the Chamber. Advance is a partner in the Advance Business & Manufacturing Center, a partnership of organizations providing assistance and resources for growing businesses in the New North.