Walden mutual
Seedlings Loan Readiness Program
Join a cohort of entrepreneurs building their businesses, while positively impacting their communities.
Overview
Our Seedlings Loan Readiness Program is designed to address longstanding systemic inequalities of opportunity in conventional credit offerings. Rather than relying on traditional "shorthands” for character (namely FICO scores and personal credit histories), we're relying 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.
Seedlings consists of an in-depth 7-month cohort-based (5-7 participants) facilitated program, designed to produce comprehensive cash flow projections and prepare participating businesses for a traditional banking relationship.
Objectives
At any point during the program, participants are eligible 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.
What You Get
A well-developed and thoroughly reviewed cash flow forecast
Pre-launch virtual meetings (1-2): assignments of work and Q&A to prep for kick-off
Kick-off: multi-day kick-off event
Ongoing: 6 monthly (in-person and/or virtual) meetings
Ongoing: monthly open “office hours” with facilitator and/or Walden Mutual team
Program Eligibility
- You have a food, agriculture, or related business
- Your annual gross revenue is at least $30,000 but not more than $400,000 (recommended)
- Your business is a full-time endeavor, or you have a well-defined path in place to your business becoming one
Learn More
We run cohorts of this program in partnership with host organizations throughout the Northeast, and with facilitation by Small Business Butter. For updates about cohorts launching near you (the program requires some in-person meetings), please fill out this Interest Form. We will reach out to you when new cohorts within your geographic region are accepting applications for participants. We look forward to learning more about your business!