New Roots Services

 

We offer a variety of solutions to minimizing the barriers to entrepreneurship. While our focus has been on the refugee and immigrant population in King County, we are able to serve any qualified individual. Our clients are committed to going through the business trainings, create a business plan and develop a realistic budget.

 These loans target retail businesses selling culturally appropriate products and are often run by women as supplementary income, or as a secondary job.

• The average loan is under $1,000 dollars.

 

Loans that are made in conjunction with Community Capital Development or Numerica Credit Union. Borrowers complete the partner's loan application is offered a small loan by New Roots that is subordinate to the larger loan disbursed by the partner institution.  

• The average loan is under $6,000 dollars.

 

Because loans are reported to TransUnion Credit Bureau you can build your credit without too much risk.

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• Loans less than $500 paid off within six months.

 

Fully secured loans that can range up to $15,000 dollars.

 

• The average loan is $4,500 dollars

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Startup businesses that begin as home-based operations that need small loans, followed by gradually larger loans as the businesses begin operating outside the home. 

 

• The average loan ranges up to $25,000 dollars

 

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New Roots has successfully pioneered loans that conform to Islamic religious authority. Fee based loans do not offer a special advantage but are structured to avoid to use of interest.

 

• The average loan is $3,500 dollars 

We currently offer business readiness classes on an invite basis as well as one-on-one mentorship for qualified businesses. 

 

Our classes cover the
following topics:

 

• Financing

• Credit

• Licensing

• Insurance

• Tax

• Marketing

 

Our curriculum was designed in-house and is known as "Eyes Wide Open Business Development" We understand that some entrepreneurs speak English as a second language, therefore interpreters are provided when available. We are also working on translating "Eyes Wide Open" into multiple languages.

With over ten years of experience in micro-finance and working with small businesses our office has developed strong relationships with our clients, other lenders and business professionals. 

 

We have a network of businesses and consultants whose experience and insights help support our mission. Mentorship helps new business owners navigate the many obstacles that act as barriers to success.

 

New Roots understands the importance of community support and works extensively with its partners to ensure that our services, and vision are in line with the needs of the people we are serving.