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No Interest Loans:

• Well conceived business idea and ability to articulate the idea
• Understanding of the market
• Funding can only be for material or equipment essential to the establishment of the business (training may be considered if it meets this criteria)
• Funding cannot be used for personal expenditure
• Inability to fund in any other way
• Proof of ability to meet requirements of loan (preferred repayment period is 2 years. Terms may be negotiated.)
• Clear commitment to the success of the idea
• Openness to skills development
• Willingness to participate in the development program
• Willingness to participate in marketing activities for the ACT Microcredit Loan Program

Low Interest Loans:

• Business idea already validated (you have existing customers)
• Clear understanding of the market and method of attracting customers
• A developed cash flow and business plan
• Inability to fund in any other way
• Funding can only be used for material or equipment essential to growth or expansion of the business (training may be considered if it meets this criteria)
• Funding cannot be used for personal expenditure
• Proof of ability to meet requirements of loan (preferred repayment period is 2 years. Terms may be negotiated.)
• Clear commitment to the success of the idea
• Openness to training and development
• Willingness to participate in the development program
• Willingness to participate in marketing activities for the ACT Microcredit Loan Program

The new loans target a number of key groups including Aboriginal and Torres Strait Islander people, migrants, young people, women and lesbian, gay, bi-sexual, transgender and intersex individuals.

No Interest Loans:

Health Care Card (for a period of at least 6 months), Pension Card or equivalent
Combined family income no higher than $65K (including de facto relationship)
ACT resident for minimum of six (6) months (proof of residency required)
Business will be based in the ACT

Low Interest Loans:

Health Care Card (for a period of at least 6 months), Pension Card or equivalent
Combined family income no higher than $75K (including de facto relationship)
ACT resident for a minimum of six (6) months (proof of residency required)
Existing or semi established business based in the ACT

Loans are available on a competitive basis.

Competitive loans are granted based on satisfying selection criteria.

The ACT Microcredit Loan Application process is as follows:

Step 1: Speak to a Lighthouse client manager to discuss your business needs and whether the ACT Microcredit Loan Program is right for you.

Step 2: The Lighthouse client manager will email you a form to complete that asks you for more details about your business or business idea. Complete and submit the form.

Step 3: Attend an initial meeting with a Lighthouse client manager (either in person or virtually) to discuss your business idea and how you plan to put it into practice.

Step 4: You may be asked to submit additional information such as a personal budget or for interest bearing loans, a business budget. Loan applicants are then shortlisted on the basis of their submitted application.

Step 5: Applications are reviewed by a panel of Lighthouse client managers. Successful applicants are notified and a meeting scheduled to determine a work plan and loan amounts. If unsuccessful, Lighthouse will arrange a debriefing and where possible refer to other appropriate services.

Step 6: Loan Agreements are signed and follow up meetings are scheduled according to the agreed work plan. Events and online learning tools will be promoted to all applicants whether successful or not.

Current Program:
EOI being accepted and assessed	Now Open
Loan Applications are being accepted	Now Open
Meeting with a client manager
Agreements signed and funds distributed
Funds distributed

No Interest Loans:

Low Interest Loans:

Loans are available on a competitive basis.

The ACT Microcredit Loan Application process is as follows:

Current Program:

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