Loan ApplicationMicro-Loans_files/SPICE%20Loan%20Application%20112209.pdf
Loan ChecklistMicro-Loans_files/SPICE%20Loan%20Checklist%20112209.pdf
Technical Assistance FormMicro-Loans_files/SPICE%20TA%20Form%20112209.pdf

  1. 1.Contact the SPICE office and schedule a meeting with the Microenterprise Assistance Program Manager, Melody K. Borchers – 394-2200.


  1. 2.Complete a Technical Assistance (TA) form and Microloan Application.


  1. 3.Confirm eligibility for borrowing:












  1. 4.Review the SPICE Microloan Package including: sample business plan, personal financial statement, 1st Stop Business Connection, cash flow forms, etc.


  1. 5.Follow the SPICE Microloan Checklist of documentation required for loan approval: written business plan, cash flow projections, Use of Loan Funds, insurance quote, licenses and permits, copy of personal Income Tax, credit report, background check, etc.


  1. 6.Completed packages are presented to the SPICE Revolving Loan Committee for approval – committee meets monthly.  Final approval contingent upon SPICE Board of Trustees and appropriate funding agency.


  1. 7.Once loan approved, closing is scheduled with MAP Program Manager to sign closing documents i.e. promissory note, security agreements, etc.


  1. 8.Loan terms range from 1 year to 7 years or matched to use of funds; interest rate fixed at 5%; filing fees paid by borrower.


  1. 9.Start up businesses must attend the SPICE business planning class before loan is approved or within six (6) months.


  1. 10.Enjoy being self-employed; make money and pay back your SPICE loan!!!!!

  1. BulletResident of Perry County or opening business in Perry County

  2. BulletLow to moderate income (at or below 80% of the county median income adjusted for household size)

  3. BulletStarting or expanding a small business

  4. BulletBusiness financial need between $500-$20,000

  5. BulletUnable to secure a commercial loan

  6. BulletMeet use of fund criteria – working capital and asset purchases.  No refinancing.

P.O. Box 268

115 West Main St.

New Straitsville,

Ohio 43766

Phone: 740-394-2200

Fax: 740-394-2277

email:  spice.ohio@yahoo.com