Arizona Daily Star: New Tucson program offers small business loans without collateral

Abstract from Arizona Daily Star

TUCSON, AZ - Tucson-area small businesses unable to get traditional commercial loans can tap a new source of capital, thanks to two local nonprofit organizations. The Tucson-based Community Investment Corporation and Startup Tucson, have partnered with the national community-based economic development group Common Future to offer a total of $500,000 in alternative loans.

Launched this week, the Success Through Alternative Capital (STAC) program aims to help businesses without adequate collateral or assets to qualify for traditional loans… The program will use Ned, an online revenue-based lending platform, to streamline applications, qualification and disbursement activities, and to automate revenue-based repayments, the CIC said…

🔗 Read the Full Article on Arizona Daily Star

Published

May 24th, 2023

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