Information to be Provided with Loan Application

• Copies of Bids/quotes, sales agreements etc. supporting project
• Business Financial Information Operating Company
• Real Estate holdings
• 3 years of Balance sheets
• Income and Cash Flow Statements or Tax Returns
• Debt Schedule
• Personal Financial Statements and 3 years tax returns
• Matching funds source including confirmation Letter/Approval/Commitment

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
• 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.
• Rates are below market, call for our current rates!
• Loan Terms
  • 1% origination fee
  • For Equipment: Up to 7 years depending on the amount of the loan and payment
  • For Real Estate: Up to 10 years depending on the loan amount and payment
  • The maximum term is 10 years unless an exception is granted.