The Ready, Set, Grow! loan from the nonprofit lender DreamSpring offers financial footing for entrepreneurs ready to make their side business their main priority. The loan allows entrepreneurs to take the leap and turn their business dreams into reality.  It offers flexible and affordable capital from the nonprofit organization known for funding and support for new businesses.

The Ready, Set, Grow! loan provides up to $15,000 in financing and is designed for start-up entrepreneurs ready to transition from a traditional 9-to-5 job or gig work into starting a small business. Loan amount is based on business cash flow if the business is operational, or the most recent pay stub if the borrower is ready to launch. While not appropriate for entrepreneurs working in salon, transportation, or trucking industries, the Ready, Set, Grow! loan serves most others. (DreamSpring has a variety of loans that are more appropriate for the excluded industries.)

Terms are flexible and the loan rewards good business practices. Borrowers who make 12 consecutive on-time payments get a 2 percent discount on their interest rate for the remainder of the loan repayment period.

DreamSpring has an easy online application process that is backed by a team that cares about borrowers’ business and financial health.

DreamSpring is a nonprofit Community Development Financial Institution (CDFI) and U.S. Small Business Administration (SBA) lender dedicated to accelerating the economic inclusion and strength of underserved communities. Founded in 1994, the award-winning organization provides rapid access to capital and customized wrap-around support to the most vulnerable small business owners in 27 states, including New Mexico. DreamSpring focuses on communities including people of color, women, low- to moderate-income households, people with disabilities, and start-ups. Loan fees go on to fund other small businesses.

Learn more about DreamSpring, and apply for the Ready, Set, Grow! loan.