Frequently Asked Questions:
- Does my business qualify?
- Please see the prequalification section
- How do you define economically/socially disadvantaged?
- We use the SBA definition of socially disadvantaged. Socially disadvantaged individuals are defined as Black Americans, Hispanic Americans, Native Americans, and Asian Pacific Americans. Economically disadvantaged is defined as anyone that does not have access to traditional financing.
- Who reviews the applications?
- We have a Steering Committee that is comprised of Entrepreneurs, Business Leaders, Community Leaders, Michelin, and TD Bank from throughout Upstate, SC.
- How long does this process take?
- This process can take from 30-60 days or longer.
- If I am turned down? Can I reapply?
- If you are declined and want to reapply, you will be asked to meet with John Tully to discuss your application and the feedback in more detail.
- If I am declined or don’t qualify, can I still get business expertise?
- Yes, you can still receive business expertise
- Why are there “excluded” industries?
- These are industries that the committee feels are high risk and/or show very little job creation.
- Will I have to bank with TD Bank in order to receive this loan?
- No, you have the option to keep your account with your existing bank or bank with TD Bank
- Do I have to have a business plan to qualify?
- It is desirable, but not a requirement to have a business plan?
- Is Michelin hiring?
- Please see http://www.careers.michelin-us.com/
