Small Business Loan Programs
Loan
- Purchase real estate or facilities
- Equipment acquisition
- Inventory
- Permanent working capital
Qualifications
- Good credit history
- Adequate repayment capability
- Adequate collateralization
Maximum Limit
- Up to $250,000
- 85% guaranty provided to the lender for loans of $150,000 or less
- 75% guaranty provided to the lender for loans greater than $150,000
Rates and Terms
- Variable
- Prime rate plus 4.0% – 6.0%
- Maximum term of up to 10 years for working capital
- Maximum term of up to 10 years or useful life for equipment
- Maximum term of up to 25 years for real estate
Collateral
- All available business and personal assets (i.e. accounts receivable, inventory, machinery, equipment, and real property)
Loan Fees
- 2.0% – 3.0% fee
- $250 documentation fee
- All “Out-of-pocket” expenses
Loan Purpose
- Operational expenses
- Working capital
- Equipment financing
Maximum Limit
Rates and Terms
- Variable
- 8.0%
- Maximum term of 7 years
Collateral
- Available business and personal assets (i.e. accounts receivable, inventory, machinery and equipment, and real property)
Loan Fees
- 2% fee
- $250 processing fee
- All “Out-of-pocket” expenses
Loan Purpose
- Crop production
- Harvest loans
- Improvements
- Equipment financing
Maximum Limit
Rates and Terms
- Variable
- 8.25%
- Annual crop loan
Collateral
- Available business and personal assets (i.e. accounts receivable, inventory, machinery and equipment, and real property)
Loan Fees
- 2% fee
- $250 processing fee
- All “Out-of-pocket” expenses
Loan Purpose
- Equipment acquisition
- Plant improvement
- Inventory
- Permanent working capital
- Farm related business or commercial business (no agriculture production loans)
Qualification
- Business located within unincorporated (rural) areas, cities or towns with a population of 25,000 or less
Maximum Limit
- $150,000 for each borrower, or 75% of the total project financing
- In some instances, loans may be made up to $250,000 when secured by real estate
Rates and Terms
- Variable
- Prime rate plus 3.75%
- Maximum term of 15 years
Collateral
- Available business and personal assets (i.e. accounts receivable, inventory, machinery and equipment, and real property)
Loan Fees
- 2% fee
- $250 processing fee
- All “Out-of-pocket” Expenses
Loan Purpose
- Equipment acquisition
- Plant improvement
- Inventory
- Permanent working capital
Qualification
- Business located within unincorporated (rural) areas, cities or towns with a population of 50,000 or less
- Farm related business or commercial business (no agriculture production loans)
Maximum Limit
- Up to $50,000 for each borrower, or up to 75% of total project financing
Rates & Terms
- Fixed
- 9.0%
- Maximum term of 10 years
Collateral
- Available business and personal assets (i.e. accounts receivable, inventory, machinery, equipment, and real property)
Loan Fees
- 2% fee
- $300 – $500 processing fee
- All “Out-of-pocket” expenses
Loan Purpose
- Equipment acquisition
- Plant improvement
- Inventory
- Permanent working capital
Qualifications
- Business must be eligible under SBA guidelines
- Must be able to show repayment ability
Maximum Limit
- $50,000 for each borrower
Rates and Terms
- Fixed
- 9.0%
- Equal amortized monthly payments over six years
Collateral
- All available business and personal assets (i.e. accounts receivable, inventory, machinery, equipment, and real property)
Loan Fees
- All “Out-of-Pocket” expenses
Loan Purpose
- Operational expenses
- Working capital
- Equipment financing
Maximum Limit
Rates and Terms
- Fixed
- 9.0%
- Maximum term of 5 years; Balloons are acceptable
Collateral
- Available business and personal assets (i.e. accounts receivable, inventory, machinery and equipment, and real property)
Loan Fees
- 2% Fee
- $350 Processing fee
- All “Out-of-pocket” expenses
Loan Purpose
- Finance UST removal and replacement, under-dispenser containment, dispensers, leak detection equipment; piping, enhanced vapor recovery, and enhanced leak detection.
Qualification
- Owners or operator of small independent UST facilities needing to comply with specific requirements.
Loan Limit
Rates and Terms
- Below conventional market rates
- 10 years secured by Uniform Commercial Code Financing Statement (UCC) on business assets; or
- 20 years secured by a Deed of Trust on real estate with adequate equity
Collateral
- Available business and personal assets (i.e. accounts receivable, inventory, machinery and equipment, and real property with adequate equity)
Loan Fees
