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Selection Criteria

•  Well conceived business idea and ability to articulate the idea

•  Understanding of the market

•  Funding can only be for material or equipment essential to the establishment of the business (training may be considered if fundamental to business development)

•  Funding cannot be used for personal expenditure

•  Inability to fund in any other way

•  Proof of ability to meet requirements of loan (preferred repayment period is 2 years – terms may be negotiated)

•  Clear commitment to the success of the idea

•  Openness to skills development

•  Willingness to participate in the development program

•  Willingness to participate in marketing activities for the Regional Microcredit Loan Program

 

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