Important Loan Characteristics When Applying

We asked respondents to rate the importance of various SOAR Fund loan characteristics in their decision to apply for the loan.

Closely behind low-interest rates and quick approval process, 97% of respondents cite ‘no collateral required to qualify’ and 94% cite the ‘size of available loans’ as the third and fourth most important loan characteristics. 100% of loan recipients in North Carolina say that a ‘quick approval process’ is ‘very important’. In Georgia and North Carolina, 100% of loan recipients say that ‘no collateral required to qualify’ is important.

Most Important Loan Characteristics

Q: When applying for the SOAR Fund loan, how important were the following for you? (n = 275)