Loan Fund

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The SEG Loan Fund offers growth capital to social enterprises based in Rhode Island and beyond. Expert advising is available throughout the application process and the duration of the loan. Preference is given to applicants that are graduates of the SEG Accelerator or other programs.

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Additional Details
  • Borrowers must be incorporated enterprises that seek to do well AND do good.
  • Most SEG loans are between $5k and $25k.
  • Loans are intended to fund growth and can be used for a wide range of purposes, including working capital, new equipment, website or app development and marketing campaigns. Loans cannot be used to purchase real estate or retire personal debt.
  • Payment structures are determined on a case by case basis. The most common loan structure is a three year loan with interest-only paid quarterly and a balloon payment at the end, but we tailor the loan to the cash flow needs of the borrower.
  • We have no pre-set collateral or revenue requirements, (although proof of revenue is required). Potential borrowers are evaluated based on a range of factors, including the management team, value proposition, financial projections, operating strengths and market conditions. Personal guarantees are generally required.
  • Free technical assistance is available to potential borrowers who need help assembling their Loan Application package.
  • Borrowers must complete quarterly financial reports and annual business reviews for the Loan Committee for the duration of the loan.
  • Interest rates are generally competitive. The exact amount will depend on the loan size and the borrower’s risk profile.
Success Stories

Entrepreneur - Shawn Rubin

“As a startup software company we are constantly battling the highs and lows of cash flow peril. SE Greenhouse’s loan program came to our rescue. As a startup software company we had no resources available to seize it, the SEG loan committee saw potential in us and gave us the capital we needed to make a huge jump forward in establishing ourselves as an independent company.”- Shawn Rubin, Co Founder & CEO, Metryx LLC

 

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