• For-profit businesses with 100 employees or LESS
  • Located in a city or  town with a population of 50,000 inhabitants or less not within an urbanized area contiguous and adjacent to such a city or town based on the latest decennial census
  • Can lend $25,000 for every full-time job retained or created within a 3-year timeframe
  • Can finance up to 50% of total project costs or $150,000, whichever is less
  • Must match bank/other lender financing terms
  • Can finance up to 15 years on real estate, 10 years on machinery & equipment and 3 years on working capital (blended terms available)
  • Requires a personal guarantee and life insurance on the amount of loan on principal owners
  • No prepayment penalty
  • Costs are $450 non-refundable fee collected with commitment letter and 1% at closing (fees not to exceed 2% of the loan amount)