The Xavier entrepreneurial center offers a micro-loan program as part of our mission to encourage and support entrepreneurial activity. Entrepreneurs can apply for a micro-loan to be used to meet current demand or customer orders. To be approved for a micro-loan, the entrepreneur must do the following:

• Provide a complete business plan for the venture.

• Have a member of the center’s advisory board serving as a mentor throughout the approval process and duration of the loan.

• Provide financial statements, contracts from clients/customers or other evidence of sales/revenues that will be used to repay the loan.

• Provide a viable repayment schedule.

• Get approval of business plan by entrepreneurial center director, faculty and an entrepreneurial center advisory board member.

• Sign a standard loan agreement.

Once approved:

• Applicant receives micro-loan, continues to work with advisory board mentor, and repays loan on time.

• Applicant is considered in default of loan for missed payments or failure to meet regularly (monthly) with mentor.