This program is available to most for-profit businesses located throughout Allen County. Loans may be used for land and building, renovations (Davis Bacon required), equipment, inventory, and some working capital and purchase orders.

Maximum loan amount of $75,000 without private match; $300,000 with private match

CDC finances 45% of the project, bank finances 45% of the project, and borrower injects 10%.

Proceeds may not be used to relocate a business from one labor area to another.

Rates are based on WSJ Prime Rate and are locked in at time of board presentation

Fixed Assets (land and building purchase, renovations, equipment): rate is prime rate -1% with a floor of 4%

Working Capital: rate is prime +1% with a floor of 4%

Purchase Orders: rate is prime +3% (see program guidelines for interest rate on purchase orders)

Fixed rate for term of loan and no pre-payment penalty