Loan amount available: $35,000 per job being created/retained –OR- one-third (1/3) of project cost, whichever is less; up to $150,000 maximum (subject to availability of funds).
Interest rate: Prime – 2% (floor of 5%)
Term: Amortization available to match bank participation.
Primary eligibility requirements:
Bank request for assistance
Creation or retention of jobs
Program not available in Clay, Marshall or Saline County
Special requirements: Construction projects require adherence to Davis-Bacon Wage Rates and ADA handicapped accessibility.