Financing Available: The lesser of $100,000 or 25% of Total Project Costs
Use of Loan Proceeds: Working Capital and/or Fixed Assets
Term of Loan: Term based upon collateral offered
Rate of Interest: % below bank lender’s rate, floor of 3.5%
Down Payment: Generally at least 10%
Typical Structure: 65% financed by Bank Lender (1st Lien Position)
25% financed by SEDC RLF (2nd Lien Position)
10% financed by Equity Injection
Application Deadline: Application deadline is the first Wednesday of each month. 
Collateral: Lien on Project Assets or Other Assets as negotiated. Subordinate only to Bank Lender.
Guarantees: Corporate and/or Personal Guaranty required on all loans.
Eligible Businesses: Same as SBA requirements.
Ineligible Businesses: Non-profit, consumer and marketing coops, floor plans, gambling concerns, any concern involved in speculation.
Area of Operation: Generally includes Buena Vista, Cherokee, Clay, Crawford, Dickison, Ida, Lyon, Monona, O’Brien, Osceola, Plymouth, Sioux, Woodbury counties in Iowa; Dakota and Dixon counties in Nebraska; Union and Clay counties in South Dakota.  
Job Creation Criteria: The project must create or retain jobs. Wages paid will also be evaluated.
Fees: Processing Fee:  one-time fee of 1% of RLF loan
Servicing Fee:  annual fee of ½% of declining RLF balance
Closing Costs are responsibility of Borrower.