SANTA CRUZ, Calif. – Santa Cruz Community CU said it is teaming up with El Pajaro Community Development Corp. to make $100,000 worth of microloans available for businesses served by the organization.
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To qualify for the loans, clients are required to take business training workshops.
The credit union will offer short-term loans to businesses served by the El Pajaro CDC ranging from $2,000 to $5,000 for a term of 1 to 2 years at a 9% fixed interest rate. The loans are 100% guaranteed by El Pajaro CDC deposited funds.
