Each One Teach One Entrepreneur Association
Second Chance Community Yard Greensboro N.C. Ltd
Nonprofit
secondchancegso@proton.me · (910) 910-6446
EOTO INTEREST-BEARING LOAN AGREEMENT
Form EOTO-LOAN-001 · Rev. 2026
This Loan Agreement ("Agreement") is entered into between Second Chance Community Yard Greensboro N.C. Ltd Nonprofit, operator of the Each One Teach One Revolving Entrepreneur Fund ("the Fund"), and the Pioneer entrepreneur or their designated Family & Friends Connection Representative named below ("the Borrower").
10% Interest
Fixed annual rate · Applies to all EOTO Revolving Fund loans
Loan Terms
| Term | Detail |
|---|---|
| Interest Rate | 10% fixed annual interest, applied to the outstanding principal balance |
| Stage 6 Loan Range | $500 – $5,000 |
| Stage 7+ Loan Range | $1,000 – $10,000 |
| Repayment | Monthly installments over a term agreed at disbursement, typically 12–36 months |
| Use of Funds | Business startup costs, equipment, inventory, licensing, or working capital — as approved in the Borrower's business plan |
| Late Payment | A grace period of 10 days is provided before any late notice; program staff work with the Borrower on hardship adjustments before default |
Borrower Information
Pioneer Name
Pioneer Number
Business Name
Loan Amount Requested
Representative Name (if applicable)
Representative Contact
Agreement
By signing below, the Borrower agrees to repay the loan principal plus 10% annual interest according to the repayment schedule established at disbursement, to use loan funds solely for the approved business purpose, and to provide the program with reasonable business updates. Repaid funds recirculate to the Fund to support the next eligible member.
Borrower Signature:
Date: ____________________
Association Administrator:
Danyiell Nicole Wright Johnson · Date: __________
Each One Teach One Entrepreneur Association · Form EOTO-LOAN-001 · Rev. 2026 · PRIVATE & CONFIDENTIAL