CIC provides expertise in every step of the MicroLoan process:
CREATING A PLAN
CIC business counselors review the borrower's business plan, analyze the assumptions and offer feedback for improvement. There are helpful tools available to create a business plan.
APPLYING FOR A LOAN
CIC business counselors walk borrowers through the application to ensure that the paperwork is accurate and complete. The loan application for our Community Lending Programs, including MicroLoan, is available online.
ASSESSING THE RISK
CIC in-house underwriters assess the risks to help a borrower decide whether to move forward with a business plan.
CIC loan officers present the loan to our Board of Directors for approval. Once approved, the borrower is typically only a few weeks from closing on the loan.
Borrowers can minimize delays by providing the following information:
Download the helpful planning tools that can get you started.
Leadership After The Loan
With CIC’s loan expertise and leadership, borrowers get the tools they need for long-term business success and stability. After a borrower receives a MicroLoan, CIC business counselors provide:
CIC is an economic development lender contributing financial expertise and practical guidance to small business entrepreneurs in Connecticut and Rhode Island who have powerful ideas and need more power to grow them.