Information to be Provided with Loan Application

• Copies of Bids/quotes, sales agreements etc. to support the project
• Type of Business (i.e. C Corp., S Corp., LLC, etc.)
• Copy of Corporation Bylaws
• Type of Collateral (i.e. Equipment, Real Estate, etc.)
• Current Company Prepared Balance Sheet, Income Statement and Balance Sheet Y-T-D.
• Last 3 Years of Federal Tax Returns with all attachments, schedules, and K1’s
• Current Debt Schedule
• Matching funds source including confirmation Letter/Approval/Commitment
• Source and Uses of how funds will be spent
• Business History and Background

Start-up Businesses

• A business plan will be required.
  • One can be obtained for free through the Small Business Development Center (SBDC). The plan should be based on market conditions where the business will be located
• A 3-year pro forma balance sheet and income statement
• Cash flow statements with supporting information.

Loans

• Loan amounts are up to $150,000.
• Loans are usually for manufacturing, but any business venture should inquire.
• Funds can be used for business start-up, buildings, additions, new and used equipment including upgrades as well as real estate purchases.
• Commercial and retail related ventures can acquire
• Rates are below market, call for our current rates!
• Loan Terms
  • 1% origination fee and $100 application fee
  • For Equipment: 5 to 10 years depending on loan amount
  • For Real Estate: Up to 10 years depending on the loan amount