Community-based economic development
Type of Assistance: LoansIndustry: Cities, Counties, Industrial, Manufacturing, Non-profit, Other, Technology
Maximum Amount Available: $50,000
Qualifier or Eligibility
- For-profit and non-profit organizations and
- businesses. Limited to 50% of total
- project costs. Fixed assets, working
- capital, start ups, expansions and
- existing businesses (restructure).
- Priority to distressed community,
- unemployed, low-income, minority
- benefit. Target projects which can be
- replicated or reach outside service area.
- Loans range from $500 - $50,000
- Typical range is $1,000 - $10,000
- Term-3 year - 10 years
- Interest rate: below market current 8%
- Other: Equity pass through for highly
- targeted projects
