CoVantage Creates Opportunity Grant Program
Helps eligible existing or start-up businesses with the cost of:
- Creating a business
- Sustaining a business
- Expanding a business
In 2017, CoVantage Credit Union was awarded a $2 million grant from the U.S. Treasury's Community Development Financial Institution Fund (CDFI). The CDFI grant awarded to CoVantage, combined with an additional $13 million of CoVantage funds, is being used to provide a special source of loan funding for eligible businesses.
Thanks to this loan program, CoVantage can serve business members, who meet certain criteria, by providing financing opportunities that normally would not be available. It also helps those who are not eligible for traditional business loans because of regulatory or conventional lending guidelines.
CoVantage believes local businesses are a vital part of our communities. The value they provide to the economy provides a positive impact not only through the growth of their business, but also for local communities because of the jobs created by these businesses. We are excited to offer CoVantage Creates Opportunity to give businesses another opportunity to grow and be successful.
To qualify for a loan through the CoVantage Creates Opportunity program, borrowers must meet certain income limitations and other credit union lending criteria. For more information about the loan program or to apply, contact a CoVantage Commercial Lender at 800-398-2667.