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NCK Business Down Payment Assistance Loan Program
Loan amount available:
$50,000 maximum/$5,000 minimum (subject to availability of funds).
Interest rate:
3% fixed for term/amortization of 5 years or less
5% fixed for term amortization of over 5 years
Term:
Based on project needs, up to 20 years
Primary eligibility requirements:
Minimum of 10% from Applicant/Borrower
Business projects that appear viable
Good personal credit history
Request for assistance from a bank with a physical location in the NCRPC 12-county service area
Special features:
Unsecured, with the owner as a co-borrower
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