KYN Announces Partnership with Community First Credit Union
December 11, 2013 4:30 pm EDT
KYN, an innovative accelerator program for start-ups, has announced a new partnership with Community First Credit Union, a Jacksonville-based credit union that proudly supports the First Coast community through volunteerism, environmental sustainability and financial leadership. Community First Credit Union will be offering graduates of the KYN accelerator program special business loan packages to help them fund the success of their start-up ventures.
“Entrepreneurs are constantly generating new ideas for business ventures, but often struggle with developing a support network to help launch a viable company. Whether that is someone to provide guidance on writing a business plan or securing financing, it usually takes a village to create a solid base for growth,” said Elton Rivas, KYN co-founder. “We are filled with gratitude for the monetary aid the Community First Credit Union team has generously agreed to supply to KYN graduates and look forward to working with them to build a stronger Jacksonville start-up economy.”
Community First Credit Union will be providing KYN graduates with the following benefits:
• A streamlined loan application process with guidance through every step.
• Elimination of the need to have two years’ tax returns to apply for a loan.
• Line of credit payments based on a percent of outstanding balance instead of amortized payments to keep companies’ cash flows dedicated to growth instead of quick loan repayment.
• Instant qualification for the best available interest rate on the line of credit, regardless of time in business.
“Community First Credit Union believes in the power of small business and KYN,” said Community First President and CEO John Hirabayashi. “We are eager to be partners in every stage of business – from genesis to growth. We created this program to support entrepreneurship in our region by removing traditional hurdles to working capital.”
For more information about the KYN accelerator program, visit: http://kyn.is.
KYN is a relationship focused accelerator and apprenticeship program located in the heart of downtown Jacksonville, Florida. The KYN team includes entrepreneurs, investors, innovators, and leaders passionate for creating impactful, sustainable companies. KYN is financially backed in part by Shad Kahn, owner of the Jacksonville Jaguars and founder of STACHE Investments Corporation. Visit http://kyn.is for more information.
About Community First Credit Union
Community First Credit Union of Florida is a state-chartered credit union based in Jacksonville serving anyone who lives or works on the First Coast. Community First is one of the 10 largest credit unions in the state, serving more than 106,000 members and with assets of $1.3 billion. Community First has 17 locations and more than 300 employees. A not-for-profit, Community First is a full-service financial institution offering banking, loans, mortgages and investments for consumers and businesses throughout the First Coast.
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Community First Credit Union
Maria Coppola, APR