The program provides long-term, fixed rate financing to for-profit small businesses that are pursuing projects involving construction, renovation or purchase of machinery or land.
Terms & Qualifications:
- Provides funding in the form of long-term, fixed-rate financing to small businesses
- Eligible businesses must be for-profit organizations, that do not have a tangible net worth not more than $15 million and do not have an average net income in excess of $5 million or less after taxes for the preceding two years
- Funds can be used for:
- Construction of new facilities or modernizing, renovating or converting existing facilities
- Purchasing long-term equipment and machinery
- Purchasing land and improvements, including existing buildings, grading, street improvements, utilities, parking lots and landscaping
Funding Available:
- Loan: Up to $5 million for small manufacturers
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Businesses must create or retain one job for every $65,000 guaranteed by the SBA. Small manufacturers must create or retain a ratio of one job for every $100,000. As alternatives businesses mayqualify if a community development or public policy goal is met
Available Funding:
Loan: Up to $5 million for small manufacturers
Businesses must create or retain one job for every $65,000 guaranteed by the SBA. Small manufacturers must create or retain a ratio of one job for every $100,000. As alternatives businesses may qualify if a community development or public policy goal is met.
Program Administrator:
US Small Business Administration (SBA); Certified Development Company (CDC)