Impact is a repayable loan.
It is an unsecured loan. However, if the loan is used for equipment, it may be used as security.
No you do not need a down payment. However, should you require additional investment, other lenders may expect a contribution from you.
Credit is an important part of the assessment for Impact. However, Impact considers credit that is normally lower than what a bank would expect.
This will need to be discussed with the Urban Lender.
If a loan payment cannot be made, you must notify your Urban Lender and they may agree to hold payment or agree to interest only for a period of time.
A franchise can be considered under Impact.
Impact has flexible repayment options that you can discuss with your Urban Lender.
Interest starts at Prime plus 2%.
Impact can consider lending requests of any amount to a maximum of $20,000 per individual/business.
No. Refinancing is not eligible under Impact.
Yes, but the maximum loan that you can have outstanding at any time with Seed and Impact is $20,000 (they are the same program).