Sagehill Community Futures has officially introduced its new Women’s Initiative Fund, a dedicated program aimed at assisting women entrepreneurs. This fund seeks to provide crucial financial resources for women wishing to launch or enhance their businesses, whether through securing capital funding, accessing developmental support, or acquiring equipment for part-time endeavors.
“This loan fund is specifically designed for women who are in the process of starting a business, acquiring an existing one, or scaling their operations,” stated Susan Wehage, Executive Director of Sagehill Community Futures. “The loans can cover a variety of eligible expenses, including startup costs, working capital, business expansion or renovations, inventory purchases, and capital expenditures.”
The Women’s Initiative Fund provides loans of up to $45,000, featuring a fixed interest rate set at prime plus two percent for a 60-month term. The loan terms are structured to offer flexibility: there are no penalties for prepayment, and borrowers will only pay interest during the initial six months, transitioning to blended monthly payments thereafter.
“This fund is perfect for those looking to transform a side-hustle into a part-time, seasonal, or even full-scale business,” Wehage emphasized. “It’s all about assisting women in taking that vital next step in their entrepreneurial journey.”
Securing funding for new business ventures can often pose challenges with traditional lending institutions. Sagehill’s Community Futures lending programs are tailored to provide the flexibility that many early-stage entrepreneurs need.
“All loan decisions are made locally through our volunteer board of directors,” Wehage remarked. “Once we have all the necessary information from the client, we generally can process loan applications within five to seven business days.”
The Women’s Initiative Fund aligns with Sagehill Community Futures’ broader goal of promoting economic development within the community by empowering women entrepreneurs. This innovative program is anticipated to make a significant impact on the local business environment, equipping women with the financial tools necessary for success.
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