Business Start-Up Assistance

Business Startup Assistance

Interest Free Loan Application

"*" indicates required fields

1Borrower + Loan Information
2Co-signer Information
Legal name of Borrower*
This is the name the government recognizes the business by. It is on the articles of organization, tax documents, etc. If business is not yet officially incorporated, list the date by which it will be (not longer than 60 days from loan date). Borrower is responsible to notify Gemach in writing of the legal business name by that date.
The best email to reach the Borrower.
The best number to reach Borrower.
Address of Borrower*
This is the Borrower’s place of residence. In the event this address changes, the Borrower will immediately notify the Gemach in writing. The Borrower must reside in Metropolitan Detroit, Michigan at all times of the loan.
This is the name the government recognizes the business by. It is on the articles of organization, tax documents, etc. If business is not yet officially incorporated, list the date by which it will be (not longer than 60 days from loan date). Borrower is responsible to notify Gemach in writing of the legal business name by that date.
This number is provided by the government. If the business has not been officially organized yet, list the date by which it will be officially organized (not longer than 60 days from loan date). The Borrower will be responsible to notify the Gemach in writing of the tax ID or EIN number by that date.
Address of the business*
The address the business is registered at, as recognized by the government. If the business has not been officially organized yet, list the date by which it will be officially organized. The Borrower will be responsible to notify the Gemach in writing of the business address by that date. In this instance, the Gemach will communicate with the Borrower at his/her/its address listed above.
For example: Healthcare, automotive, construction, etc.
Describe what the business will do, including but not limited to the products and/or services it will provide, and to whom it intends to provide those products and/or services.
The total startup costs for the business. The total of all the costs should add up to the total expected startup cost listed below. It is necessary to detail the costs in different areas of the business; for instance: Advertising, employee wages, legal fees, cost of materials, etc. It is not necessary to list costs of specific items; for instance: Newspaper ads, internet and phone, staplers, etc.
Max. file size: 256 MB.
Where are the dollars from the loan expected to be used among what was provided in response to the prior question? What will be provided to the Gemach each year to show that the loan amounts are accounted for as applied toward the business, and were not used for another cause? Note that the expected use of the funds may differ from the actual use of the funds, but the funds must be shown to have been applied entirely toward the business.
This should align with the total of all costs provided above.
The loan amount cannot be more than 60% of the total expected startup cost.
For background and assistance on producing a Business Plan, see https://learn.sba.gov/learning-center-plan/learning-center-how-to-write-a-business-plan and https://www.score.org/event/developing-business-plan
Max. file size: 256 MB.
Verify Borrower has completed the required readings*
required readings2*
required readings3*
required reading4*
The loans of the Gemach are only for those who have a financial need for a loan. A ‘statement of financial need’ speaks to why you have a financial need for a loan, and is relied on to qualify you for the loan. By way of example, the statement can list the reasons why you are having trouble getting the necessary funds together; why you are seeking aid.
Max. file size: 256 MB.