Small Business Services > Financing > Profit-Based (Islamic) Financing Program

Profit-Based (Islamic) Financing Program

Because Islamic law prohibits the use interest, NDC created a Reba Free Financing mechanism to serve our Muslim entrepreneurs-one of the first of its kind in this country.

The Reba Free Financing Program is available to existing and start-up businesses through buy/sell agreements with deferred payments. Start-up businesses and those businesses under one year of age may be required to complete NDC's Micro-Entrepreneur Training Program before being eligible for the Reba Free Financing Program.

Eligible Borrowers:

Business owners with incomes below 80 percent of the area median who operate businesses in the service area are eligible for this program.

Service Areas:

Businesses must be located in the cities of Minneapolis or Saint Paul. A small amount of funds have been set aside on a pilot basis for businesses located in the near suburbs of Minneapolis and Saint Paul.

For more information on any of NDC's Financing Programs, please contact us.