- RLF and SBF loan programs will finance up to 50% of total eligible project costs or $200,000, whichever is less.
- Land acquisition, preparation and associated expenses
- Building acquisition, construction, or renovation
- Machinery and equipment purchases (new or used) and related expenses
- Working Capital (major expansions only)
- Land & Building – up to 15 years
- Machinery and Equipment – up to 10 years
- Working Capital – 3 years
- Revolving Loan Fund (RLF) rate is four points below prime rate (no less than 4%)
- Small Business First (SBF) rate is set quarterly and will be fixed for the term of the loan.
- Settlement Fee: $450
- RLF loans require a 1:1 private sector match. At least 10% must be injected by applicant.
- SBF loans require a 1:1 match
- Manufacturing or Industrial Business
- Hospitality Enterprise
- Commercial & Service
- Child Day-Care Enterprise
- Agriculture Enterprise or Agriculture Producer
- Must collateralize asset(s) financed
- Will subordinate lien position to bank
- Personal and corporate guarantees may be required
For additional information please contact:
Loan Program Manager