Loan Program for Island Businesses
The mission of the IESC is to be a catalyst for essential services and businesses on the island. One of the ways to attract and support the services that the community wants and needs is to help with funding for a new or expanding business.
The IESC can offer low-interest short term loans (typically one to five years) which supplement other funding sources and help to execute a business plan. Examples are:
to bridge a timing gap
to assist with a down payment
to help expand an existing business
to purchase an essential piece of equipment
IESC loans would typically not exceed $25,000, but amounts could vary depending on the individual situation. Consideration would be given to:
the quality of the business plan
the type of business and how essential are the services it will provide
the financial strength of the borrower
enhancement of job opportunities on the island
If you are interested in discussing a loan from us, email us and we will set up a call with you to see how we can help.
1.Information Privacy: The IESC Board can/will preserve the confidentiality of financial information you provide but please be aware that information on who gets the loans, for how much and the loan repayment status must be public info.
2.IESC Bylaws prohibit any IESC Board member from receiving any IESC benefits.