THE SMALL OFFICE/HOME OFFICE (SOHO) SMALL BUSINESS LOAN PROGRAM

The Corporation for Economic Opportunity (CEO) is a certified Technical Assistance (TA) Provider by Innovative Bank, to help Small and Minority Businesses gain access to loans, which are part of the US Small Business Administration’s (SBA) Community Express Small Office/Home Office (SOHO) Small Business Loan Program.

This program is available to those persons who are currently operating a small office or home-based business, looking to begin a "start-up" company or who are in need of technical assistance.  Through Innovative Bank, qualified applicants can apply for five to fifty thousand dollars and Innovative Bank does not base its decisions solely on credit.  The following criteria regarding loan approvals is reviewed:

  • Length of Home Ownership or Rental Home (shows stability - no collateral needed)
  • Business / Industry Type
  • Personal Credit History (all existing bebt must be current)
  • Average Monthly Sales or Estimated Sales
  • Length of Time in Business

Click here to get application forms and find out more about the program.