Black Business Relief Program
THE FUTURES FUND
- Fund Details
- Line of credit for up to $50,000
- No payments for 3 months with the option for a 3-month extension
- 3% interest
- Eligibility Requirements*
- 600 credit score
- Revenue of at least $100k/year
- 1 year of past financials
- 1 year of projected financials
- Tax and credit history
- A sound plan for getting through the COVID-19 crisis
- Business assets (no personal assets)
- Ability to explain your profitability
- Sound meeting with your referral partner
* We encourage those who may not meet all eligibility requirements to reach out regardless. We will work with you to access other resources to stabilize your business.
Additional Resources
In addition to monetary support, recipients will be partnered with technical assistance providers and Berkshire Bank staff (MY Bankers) who will offer their services to help advise and consult these businesses. With sufficient support structures in place, this temporary standstill affords hard-working business owners the unique opportunity to dedicate time to further develop their business. By offering business owners access to comprehensive professional support services, they can emerge from the COVID-19 crisis stronger than ever and ready to represent themselves effectively in the marketplace.
If your business meets the criteria listed above, please reach out to info@becma.org to discuss next steps.
