Our Program

Elmseed's small but significant loans and intensive technical support are intended to enable clients to lift themselves out of poverty. Elmseed provides initial loans of up to $2,000 to individuals with promising business ideas. Once the first $2,000 loan is repaid, clients may take out a second loan of up to $4,000. Loans are repaid in bi-monthly installments over a 52-week period. For the first loan, Elmseed charges a simple interest rate of 10% on 85% of the principal -- about $170 on a $2,000 loan -- which is directly reinvested into the loan fund.

In addition to receiving capital to start or expand their businesses, clients also have access to ongoing technical assistance from their peers and Elmseed staff members. Before becoming eligible to apply for loans, all clients must complete a 3-6 month training program, pass a certification test, and write a business plan. Clients learn financial skills including basic accounting and budget balancing.

Technical support continues through mandatory bi-monthly meetings throughout the year. At meetings, loan payments are made, loans are reviewed and disbursed, and guest speakers discuss business topics in areas suggested by the clients, such as sales and marketing, writing a business plan, business licensing, or local vending opportunities. Regular meetings allow Elmseed members to discuss current business challenges and receive advice from other small business owners who face similar challenges.