This loan of up to $1000 is available to women who have been successful in getting an ACT Women’s Microcredit loan to establish or expand a business.
The loan will assist woman entrepreneurs with costs associated with a business growth strategy. Applicants must be recipients of an ACT Microcredit Loan and in their second year of business, as a minimum.
Loan monies can be used to put into action a growth strategy or plan to bring products or services to new customers and new markets or the introduction of a new product or service. How this is achieved is up to the entrepreneur and is the basis for assessment.
Loan Application
Applicants will have had a one-year formal business review with Lighthouse Business Innovation Centre or have requested and completed an earlier review due to rapid growth in their business.
Applicants will need to demonstrate a growth strategy or plan to bring products or services to new customers and new markets or the introduction of a new product or service.
An Expression of interest of up to 500 words should address how the loan will be used to put into action a growth strategy or plan to increase sales. Examples include:
- introduction of an online strategy
- variations of core product or service or completely new offerings
- new delivery approaches
- marketing innovation
- customer loyalty strategies
- new customer/client bases, eg business-to-business versus business-to-consumer or vice versa
- geographical expansion
This list is not exhaustive and is meant as a guide to interested applicants. Applicants are encouraged to discuss plans for a growth strategy with a Lighthouse Client Manager.
Expressions of Interest need to include a time-line for implementation and quotes for how the loan monies will be used.
The Growth Support Loan Fund is sponsored by Soroptimist International of Canberra.
'Soroptimists inspire action and create opportunities to transform the lives of women and girls through a global network of members and international partnerships'.
