The Women’s Business Center has just closed the first two loans through its new WE-Lend Initiative microloan program.

The program will make loans worth $5,000 to $25,000 to local small businesses, with a special emphasis on companies led by women owners. The loans have interest rates of 8 to 12 percent and terms as long as 48 months.

The Women’s Business Center launched WE-Lend after receiving a national award from Sam’s Club and Women Impacting Public Policy. Several other local partners—Bank of Blue Valley, US Bank, UMB and the City of Kansas City, Mo.—are also providing funds for the project.

The program’s leaders intend to make loans to 48 other borrowers this year.

Kansas City’s Weave Gotcha Covered!—an interior design and soft furnishings fabrication studio—will use its loan to buy a new delivery and installation van and help pay for adding new manufacturing software. The business was founded by Kelly Wilson and Lonnie Vanderslice, and is a winner of this year’s 25 Under 25® Award.

The other borrower, the Natural High Wellness Center, will use its loan to create retail space, a classroom with a demo kitchen and a health resource library. The Leawood-based business provides massage therapy, colon hydrotherapy, far-infrared sauna therapy and other services. The center was created by Angel Canady.

Interested in applying for a microloan through the Women’s Business Center’s WE-Lend Initiative? Visit this website, or call (913) 492-5922.