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Entrepreneur Loan Program

Our application is currently closed! Please check back in April of 2024 for more information.

FAQs (Frequently Asked Questions)

Application

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Q: How long does it take to hear back?

A: EIIG reviews applications on a rolling basis. You can expect to hear back from us anytime within 2-3 weeks of your application submission.

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Q: Is credit required for applying?

A: No, EIIG does not look at an entrepreneur's credit score when reviewing applications. We aim to make our capital accessible to all entrepreneurs.

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Q: How often does EIIG open a loan cycle?

A: EIIG typically offers two loan cycles every year - one during Spring (April) and one during Winter (December).

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Due Diligence

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Q: How long will I be in EIIG's due diligence process?
A: EIIG's DD process typically takes around 3-3.5 months! During this time, you will develop a close relationship with your EIIG team to ensure that both parties are prepared for a loan to support your business.

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Q: The Due Diligence Process mentions financial projections. What does that entail?
A: Financial projections are an integral part of EIIG's DD process. During these, your DD team will work closely with you to both A.) understand your current financial situation, and B.) project out your business success for the future! Although it may sound intimidating, this is not a test! The point of projections is for the EIIG team to better understand your business and identify how we can assist.

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Q: Do I need to have "professional" financial documents for the process?
A: While professionally prepared financial statements (e.g. income statements, balance sheets, etc) are always appreciated, your EIIG D.D team can work with a wide range of data- in no way are professional books required. In the past, EIIG teams have worked with financial data ranging from Venmo history to bank statements. No matter what you are able to provide, EIIG will try our hardest to work with you to support and understand your business.

 

Q: How do I tell the team what I want the $$ for? Do I have to communicate this?
A: EIIG provides all prospective D.D. entrepreneurs with a Loan Ask, where you can propose what your EIIG loan would fund and how you expect it to help your business! This helps us better understand the direction your business is going and how we can best support your future direction.

 

Q: I haven't made a profit yet. Does this "disqualify" me from the Due Diligence process?

A: No. EIIG's D.D. process is designed to help push your business forward and maximize the support you receive. It's always important to remember that your business's financial performance is only one piece of the puzzle- EIIG evaluates all businesses holistically and with an optimistic, growth-oriented view.

Consulting

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Q: What is Consulting at the Emory Impact Investing Group?
A: Once an entrepreneur has been approved for a loan, they are assigned a personal consulting team of 4-6 analysts during the three-year repayment process. The purpose of these consulting services is to support businesses as they grow and help achieve greater profitability.

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Q: What types of consulting projects are completed for the entrepreneur?

​A: 

  • Profitability - Conducting internal and external analysis to develop profit-maximizing strategies

    • Revenue-Focused: Revenue Stream Optimization & Expansion, Pricing Analysis

    • Cost-Focused: Unit Cost Analysis & Optimization, Operation Expenses Analysis & Optimization

  • Marketing - Developing and implementing branding strategies to optimize revenue and outreach

    • Social Media Strategy

    • Customer Segmentation, Targeting, and Positioning

  • Human Capital - Optimizing and expanding labor practices to better support business operations and growth

    • Demand-Based Staff Projections

    • Labor Allocation and Management

    • Applicant Outreach

  • Industry - Analyzing economic and market trends to adapt business strategy

    • Market Analysis & Sizing

    • Macroeconomic Analysis

  • Digitalization - Equipping businesses with the technological tools necessary to streamline operations and facilitate growth

    • E-commerce Expansion & Optimization

    • Search Engine Optimization

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Q: What is the consulting agreement and what expectations does it outline?
A: The consulting agreement is a document signed by the entrepreneur following the approval of their loan. The agreement serves to set clear expectations for both the entrepreneur and the analyst team. The document overview is as follows:

  • Quarterly Financials

    • EIIG entrepreneurs must send financial documents to the Team Lead and CIO within 3 weeks of the end of each fiscal quarter

    • If requested, EIIG can provide a QuickBooks subscription free of cost to the entrepreneurs

  • Biweekly Calls

    • Team leads will set a biweekly call time with the entrepreneur to share updates from both parties

  • Communication

    • The entrepreneur and team lead should be available during standard business hours through email and/or phone

      • Confidentiality

    • Business Details, Strategic Plans, and Financials:​

      • Consulting Branch, Executive Board

    • Repayment Status:

      • Executive Board, Credit Committee, Board of Advisors, Consulting Team Lead

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