| Loan Amount |
$250,000 to $5,000,000 |
| Loan Purposes |
- Acquire, construct, or renovate commercial real estate
- Acquire machinery and equipment
- Permanent working capital
- Refinance existing business debt
- Acquire an existing business or finance business start-up
|
| Business / Property Types |
Retailers, Hotels/Motels, Restaurants, Gas Stations/Convenience Stores, Manufacturers, Child Care Providers, Adult Care Providers, Assisted Living Centers, Auto Repair Shops, Car Washes, Professional Service Providers, Recreation Facilities |
| Collateral |
Commercial real estate (where available), other business assets, personal assets |
| Types of Businesses Financed |
Privately held, for-profit businesses |
| Level of Funding |
Up to 100% of project costs |
| Maturity |
Up to 25 years, fully amortizing with no balloon payments |
| Borrowing Costs |
- Interest rates may be variable over prime or fixed
- Fees vary from 1% to 3% of loan amount plus servicing fees for construction loans
|
| Recourse |
Owner guarantee required |
