Women Empowered (WE) is committed to empowering island women through career and professional development.  Microloans can be used for: attending training programs, seminars, continuing education courses including ACE MV, goal directed college courses, workshops, seminars, conferences; gaining certification or licensing for certified nursing assistants (CNA) home health aides, or for purchasing equipment such as: computers, printers, etc.






Thank you for your interest in the WE MicroLoan Program. Included find the loan application form and guidelines.  The following will briefly explain the loan application procedures:


Loan Process

  • Applicant will complete the loan application. When the application is complete, the applicant will submit the loan application, and supporting documentation.
  • WE will review the application prior to presenting the completed application to the Loan Review Committee.
  • Accepted applicants will work with a WE facilitator as deemed reasonable and necessary.
  • The WE Board of Directors will need to review all recommendations before final loan approval.
  • WE will schedule a loan closing for disbursement of funds for those loans approved.


Loan Terms

  • Loan amount is up to $1,500.
  • Loan recipients may be allowed two years (24 months) to repay loans.
  • Interest rates are set at four percent (4%).
  • Repayment of principal and interest will be on a monthly basis, with payment due on the fifteenth (15th) of each month. Payments received 30 days late will owe a late fee equal to five percent (5%) of the monthly payment.
  • Any legal fees incurred during the collection or default of loans will be added to the loan balance and will be paid by the borrower.



Loan Application Guidelines___________________________________________________________


Required Documentations (Please include the following  with your loan application package):

  • Completed Loan Application
  • Detailed explanation of how the loan will be used
  • Two personal references
  • Any additional information that will enhance loan proposal


The average time required to process a completed application is four to six weeks.

If you have any additional questions, please contact WE at (508) 696-8880.

2013 Microloan Application