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 50,000 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
Prime + 3.5%, variable rate, adjusting quarterly.
COLLATERAL
Available business and personal assets including machinery and equipment, accounts receivables, inventory and real property.
FEES
2.5% of loan amount.
Application
