BOI is currently providing loans only to businesses who have been impacted by the COVID-19 pandemic. Consider using a Rapid Response Loan to pay employee salaries for the next several weeks, to pay insurance premiums, or consider using it as a bridge loan until additional funding kicks in from your bank or the SBA.
Compared to other working capital options, a BOI loan will be one of your most affordable financing options with a 3.75% interest rate and no application fee.
Short-term working capital gives you the ability to pay for what your business needs right now with flexible eligibility requirements. While we do take credit score and personal collateral into consideration, we don’t have minimum requirements. Plus, there’s no prepayment penalty.
Because we know running a business can be tough right now, we provide free technical assistance and coaching along the way. Our Rapid Response Hub team will answer any questions you have about operations, finances, health regulations – you name it.
Rapid Response loans are designed to provide short-term working capital. Allowable uses of the loans include payroll support, such as employee salaries, paid sick or medical leave, insurance premiums, mortgage payments, and any other debt obligations.
1. Complete the interest form
2. Follow the instructions provided via confirmation email to prepare needed documents
3. A BOI representative will contact you supplying an application & requesting supporting documents
4. BOI reviews loan submission
5. BOI issues loan approval/denial & schedules closing if approved
1. Complete the interest form
2. Follow the instructions provided via confirmation email to prepare needed documents
3. A BOI representative will contact you supplying an application & requesting supporting documents
4. BOI reviews loan submission
5. BOI issues loan approval/denial & schedules closing if approved
Are you ready to pursue a BOI loan, or discuss the opportunity with someone from our team? Fill out our online form and we’ll be in touch soon.
For questions, email lending@businessownership.org.
I'm Ready