Maximum Amount: $50,000
Use of Proceeds: Equipment or working capital (no real estate)
Interest Rate: 8%
Term: Maximum term is 6 years
Business must agree to accept business advice and technical assistance. (U.S. Small Business Administration (SBA) Program)
Maximum Amount: $100,000 or 25% of total project costs (the lesser)
Use of Proceeds: Fixed assets or working capital
Interest Rate: 2% below primary lender's rate, floor of 3.50%
Term:The term must match the life of the financed asset.
Typical Package: 65% from Bank, 25% from RLF, 10% equity injection
Maximum Amount: The lesser of $5,000,000 ($5,500,000 in certain situations) or 40% of project costs.
Use of Proceeds: Fixed asset financing (land, building, equipment)
Interest Rate: Fixed for the term of the loan
Term: 10 years for equipment, 20 years for land and building
Typical Package: 50% from Bank, 40% from 504, 10% equity injection
(U.S. Small Business Administration (SBA) Program)