IE Business Daily Business news for the Inland Empire.
Apple Valley is trying to help its small businesses grow.
The Apple Seed Small Business Loan Program provides loans that can be used for multiple purposes, including purchasing equipment or inventory or providing special training for employees, according to a statement released this week.
The minimum $10,000 loans include a five-year term with no prepayment penalties and a fixed interest rate as low as 7.5 percent. The program is directed primarily at helping micro-businesses get started.
Apple Valley Economic Development will partner with AmPac Tri-State in Grand Terrace to perform screening, underwriting, loan monitoring and service.
AmPac Tri-State is a partner with the U.S. Small Business Administration, according to the statement.
