Equitable Local (micro)Lending Initiative
The Unitarian Universalist Society (UUS) has partnered with MDC Iowa to create an innovative small business loan fund to improve the inequities in wealth distribution and foster greater economic participation for historically underserved communities in Iowa City. The Equitable Local (micro)Lending Initiative (ELLI) is an important start to the next chapter in our history that we hope will inspire others to act.
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Together, MDC Iowa and the UUS will empower local businesses, and advance economic justice.
Our Shared Mission: Create opportunities for marginalized populations—immigrants, returning citizens, people of color, and low-income individuals—to access capital and resources, helping to build successful local businesses and achieve economic resilience.
1
Emergency Loans
A lifeline in your time of need. No interest loan up to $750 for hardships like unexpected household expenses, automative repairs, weather relief, utility deposit or avoid disconnect.
2
Small-Dollar and Community Loans
Provide funds to start a for-profit business. Community Lending Loans from $1,000 to $2,500 and Small-Dollar loans up to $2,500 with 5% APR.
3
Microloans
Provide funds to grow a for-profit business. Small business loans from $5,000 to $8,000 with 5% APR.
