Loan amount available:
- Up to 80% of project cost (subject to availability of funds)
- Minimum loan amount of $5,000
1%, see special features for other fees
- 1-3 years for working capital and inventory
- 3-5 years for machinery/equipment and furniture/fixtures
- 10 years for real estate
Primary eligibility requirements:
- Letter of credit from bank equal to loan amount requesting from program.
- Program not available in Clay, Dickinson, and Marshall Counties.
- Servicing fee of 1%
- Annual letter of credit fee charged by bank
See Business Finance Program for assistance.