Count Me In provides micro loans from $500 to $10,000 to women who are starting or growing their businesses. Your first loan must be $5,000 or less. Each time you repay a loan in full, you are eligible to borrow again from Count Me In.

If you are interested in a larger business loan, you may qualify for Count Me In's Make Mine a $Million Business™ program please go to www.makemineamillion.org for further details.

The interest rate on a Count Me In loan ranges from 10 to 15%. The rate will be adjusted to reflect your credit history, the risk of the business, and your prior experience. Rates will be established as part of the loan decision and will be set for the term of the loan.

Terms for CMI loans will be from 6 months to 60 months, depending on the amount of your loan. First loans usually must be repaid in 18 months or less.

Priority will be given to applications for businesses that already exist, although we occasionally will lend to a start-up business if the owner has significant related experience or other sources of funding available.

We do NOT lend money for training or educational purposes, or for certain kinds of businesses-for example, gambling, in-home day care, multi-level marketing ventures, or to purchase real estate.

Loans can be used for working capital, purchase of inventory or equipment, marketing materials for a sales event, or other uses that will help your business generate cash.

Before submitting your application, you will be asked to pay a $25 Application Fee. The purpose of this fee is to help cover the cost of processing the applications, which includes checking your credit report with one of the three credit reporting agencies.

Keep in mind that as a not-for-profit organization, Count Me In is not like banks or other commercial lenders. It is important for all our borrowers to repay their loans as scheduled. All loan repayments are recycled to make new loans to other deserving women. Your timely payments make it possible for more entrepreneurs to benefit from Count Me In programs.

Steps to Getting a Loan

Complete the Count Me In loan application. You will need your social security number, information about your sales, business, and personal income and debts.

The Count Me In loan officer reviewing your application will normally make a decision within six to eight weeks. You will be contacted at that time. Contact us if you have any questions.

If you are approved for a loan, Count Me In will send you a promissory note in the mail - a legal document with the terms and conditions of the loan. Fill it out, according to the instructions, and return it to Count Me In. If you accept the terms of the loan and sign the promissory note, you will be charged a one-time Closing Fee of 1% of the amount of the loan (up to a maximum of $100 for a $10,000 loan).

The Application Fee you paid will be deducted from this Closing Fee and the net amount will be subtracted from the initial loan proceeds that you receive. For example, if you receive a $5,000 loan, the gross closing fee would be $50. We would then subtract the application processing fee ($25). So the net Closing Fee will be $25 ($50-$25).

If you are denied a loan, Count Me In will give some suggestions about what you can do to improve your ability to qualify for a loan in the future.

If you receive a loan, you will be responsible for making monthly payments of interest and principal to Count Me In. You will receive a statement each month telling you the amount that is owed. Your check to Count Me In should be sent to the address provided in the statement. Once the loan is paid in full, you are eligible to apply for another CMI loan.

Reports and Other Fees

Count Me In reports loan activity to our credit bureau. This includes both positive and negative payment information. Reporting helps women establish a credit history for themselves as all of the information reported is in their name. Count Me In charges a $25 fee for bounced checks and a $20 late fee for payments received 5 or more days past their due date.