Loan Amount: $250,000 to $1.2 million
Loan Term: Up to 3 years
Loan Approval Process: Approximately 30 days
- At least 1 year in business
- Annual sales of $300,000
- Main business location - Southeast and Mid-Atlantic regions, St. Louis Metro
Use of Loan Funds
- Growth capital
- General working capital
- Inventory, equipment, or fixed assets
- Refinance or consolidate debt
The Need for Social Justice
According the U.S. Minority Business Development Agency, the country’s 8 million minority-owned firms contributed $1.4 trillion in revenue and 7.2 million jobs to the economy in 2012. While this is significant, it’s only a third of the revenue and employment that minority businesses could represent—if there were successful entrepreneurship parity between communities of color and majority communities.
From a social justice perspective, the Up Community Fund seeks to provide flexible financing and technical assistant resources to empower business owners, employees and communities of color to achieve parity.
"We are excited to offer a flexible financing solution that has been specifically designed to meet the needs of entrepreneurs of color in the southeast region. UP Community Fund is a social justice solution that will make a difference to people and communities of low-to-moderate income. "
David Sharp, Managing Partner of UP Community Fund