Ask us about Indus Fund, a micro loan program designed to help immigrant-owned businesses.

The Indus Fund

Overview

The Indus Fund is a micro-loan fund dedicated to New Mainers (first generation immigrants) looking to create a life for themselves and their families, catalyze their businesses, build credit and banking history, and help grow the Maine economy. The Indus Fund is the brainchild of founder and managing partner Kerem Durdag, who is currently president and chief operating officer of GWI, the Biddeford-based internet service provider. As part of our Business Hub, the IWC is a proud partner with the Indus Fund to assist with promotion of the loan program to New Mainers.

In close partnership with cPort Credit Union, the micro-loans will be administered via an already existing loan underwriting infrastructure and process. Loan applications are available in both English and French. Additionally, cPort has teamed up with a translation phone service, Certified Languages, Inc., to help guide applicants through any type of cPort-related process. In addition, applicants will be offered mentorship during the loan process. Research has proven that entrepreneurs and small businesses that engage with a mentor are much more likely to succeed and to demonstrate profitability sooner than those who choose not to pursue mentorship. For information on becoming a mentor please reach out to indus.mentorship@gmail.com.

Micro-loan Details

Loan can be made to individuals or businesses for amounts between $500-$10,000.

The maximum loan term can be up to 5 years and the interest rate is fixed at 3.5%.

Please contact us at the Greater Portland Immigrant Welcome Center at info@welcomeimmigrant.org for more information about the Indus Fund and how to apply.