Brightpoint Development Fund provides affordable financing for eligible small-business owners looking to grow their businesses and entrepreneurs who are just starting their businesses. We offer alternative financing for customers who cannot borrow from traditional lenders due to various reasons such as past credit problems, the nature or structure of the business, or need only a small amount of capital.
Our Offerings
Brightpoint Development Fund offers two small business loan products. They are:
Small Business Microloans
Our Microloans are designed for start-ups or newer businesses looking for initial capital. They are early in their business lifecycle and typically looking to move from a hobby or part-time business to a full-time one. Microloans have the following terms:
- Loan Amount: $5,000 to $50,000
- Loan Length: 36 – 60 Months
- Loan Interest: 8-10% (subject to change)
Small Business Loans
Our Small Business Loans are designed for newer or existing businesses experiencing growth. These businesses are looking to take advantage of opportunities to reach a new milestone or scale the business. Small Business Loans have the following terms:
- Loan Amount: $50,001 to $200,000
- Loan Length: 60 Months
- Loan Interest: Prime + 1-3% (subject to change)
Interested in applying? Start by reviewing our Eligibility and Application Information, and then start your online application.
Who We Serve
The common Brightpoint borrower is someone who has trouble accessing traditional financing because of past credit issues, limited collateral, not enough business history, limited owners’ equity in a project, or various other reasons. While a borrower may be lacking in some of these areas, Brightpoint will examine a borrower’s character, industry experience, and business plan when looking at a loan application.
What Makes Us Different
Business Services
Along with financing, each borrower must participate in Brightpoint’s technical assistance program. This program’s goal is to help our borrowers develop business skills in areas where they have an identified need. This is done through group workshops taught by local experts or one-on-one work with BDF staff.
Benefits to Financial Institutions
We offer financial institutions a place to send business owners turned down for a loan while keeping them as customers. Brightpoint will also send the financial institution a report about the technical assistance provided, and capital lent to their customers.