To be considered for this program, your small business must:
- Have completed the SHEBA Accelerator Program.
- Be a for-profit business with no more than 20 (full or part-time) employees.
- Be a minority-owned and/or women-owned small business (minimum 51% of minority/woman ownership required).
- Be in good standing with the Department of Revenue Services (DRS).
- Have been conducting business for a minimum of 6 months.
- Forgivable loans up to $50,000 (forgivable after 1 year if all documents support the loan has been received).
- 0% Interest Rate
- No application fee.
1. Fill out HEDCO’s Intake & Privacy Form – Intake & Privacy Form
If you’ve already filled out an Intake & Privacy form for HEDCO, retrieve your Intake ID and proceed to Step 2.
2. Complete the application – Apply Now
3. Submit necessary documents
- Personal & Business Tax Returns (2 years)
- Profit & Loss Statement (prior year)
- Profit & Loss Statement (year to date)
- Status Letter for Department of Revenue Services (DRS)
- Cash flow projections (12 months)
- Source & Use of Funds
- Executive Summary (business over 2 years) or Business Plan (business under 2 years)
4. If you need to upload additional documents after you’ve submitted your application, click here and make sure to have your Application ID associated with this program.