Frequently asked questions 1.How do I become a member? Click on the subscribe button and pay your membership fee. that is all it takes to become a member.
2.Can men become members? Men can apply through their wives throughout Massachustts, especially the city of Lynn.
3.How much can I borrow? We don't give out cash, we put the business in place for you. Business capital will range from $1,000 to $100,000. 4. What are the interest rates, terms, and collateral? Interest Rates: 20% of the initial capital Terms: Also vary with the success of the business. The maximum term is 72 months with no pre-payment penalty. Collateral: No collateral required. Eligible uses: Machinery, equipment, furniture, fixtures, leasehold improvements, inventory, supplies and working capital. We put the business in place. For example if you want to start cosmetic store, WCIG will train you, find and pay for the location, pay for all the store fixtures like shelves etc, Pay for instalation, Pay the suppliersprepare all the books with you, contact suppliers, or The owner must be actively involved in day-to-day business operations.
5. How much does it cost to apply?
There is no application fees for members.
6. Can I pay with a credit card?
Yes. Membership fees can be paid online.
7. How long does it take to get an approval?
A membership approval letter will be sent out to members by WCIG as soon as membership fees is received.
8. My credit is not so great…can I still qualify?
Yes, WCIG capital access are not credit base.
9. Do I need a business plan?
Access capital will not be approved without a written business plan. WCIG staff will help out with this.
10. What other documents are required? Prove of identity and social security number 11. Is the online application secure?
Yes, all information entered in the application is secure and will not be shared with third parties.
We highly appreciated your trust in WCIG by paying your annual membership fee of $150.