Seedlings Loan Readiness Program

Overview

CitySeed is partnering with Walden Mutual to offer the Seedlings Loan Readiness Program – a program designed to address longstanding systemic inequities of opportunity in conventional credit offerings. Rather than relying on traditional "shorthands” for character (namely FICO scores and personal credit histories), Walden Mutual relies on the demonstrated commitment of the borrower, as measured by character references (including endorsement from their peers) as well as their commitment to, and participation in, the program.  In particular, the program targets underserved emerging food, agriculture, and related businesses who are just starting to build their credit histories. 

The program consists of an in-depth 8-month cohort-based (6-8 participants) facilitated program, designed to produce comprehensive cash flow projections and prepare participating businesses for a traditional banking relationship.   

Objectives

Program participants will have the opportunity to apply for a below market rate loan from Walden Mutual – and they’ll be better prepared to “speak the language” of financial stakeholders. This program provides broader education – connecting the participants’ entrepreneurial passion to business fiscal literacy and how it relates to operational improvements.  The program’s “curriculum” consists of live case studies and deep dives into the business’s cash flows.