OCLF arranges loans to start or expand a business. If you are looking for small business financing, we are a good place to start due to our extensive community partnerships.
Small Business Loans
- Current maximum of $15,000
- Interest rates on the loans are usually 6% above the current bank prime rate
- Loan repayment terms normally range from 12 to 48 months
Fees to Borrowers
Upon approval of a new loan OCLF will charge a one-time due diligence fee of 2% of the value of the loan, up to a maximum of $250.
OCLF considers applicants, which other lenders will not. This includes applicants who have encountered credit difficulties in the past or have not yet established a credit history. There will nevertheless be certain minimum standards. All applicants will be subject to a credit check and their eligibility assessed by OCLF and its lending partners on a case-by-case basis.