Intermediary Relending
DESCRIPTION
Business loans in rural areas.
USE OF FUNDS
Working capital, equipment acquisition, plant improvements and inventory.
QUALIFICATION
Business must be located in an unincorporated area or in a city or town with a population of 25,000 or less.
MINIMUM & MAXIMUM AMOUNTS
$25,000 to $250,000.
MATURITY
7 years on loans for equipment or working capital; 15 years on real estate.
INTEREST RATE
Rate tied to prime based on credit evaluation.
COLLATERAL
Available business and personal assets including machinery and equipment, accounts receivables, inventory and real property.
FEES
2% of loan amount.
Application