Copies of Bids/quotes, sales agreements etc. to support the project
Type of Business (i.e. C Corp., S Corp., LLC, etc.)
Copy of Corporation Bylaws
Type of Collateral (i.e. Equipment, Real Estate, etc.)
Current Company Prepared Balance Sheet, Income Statement and Balance Sheet Y-T-D.
Last 3 Years of Federal Tax Returns with all attachments, schedules, and K1’s
Current Debt Schedule
Matching funds source including confirmation Letter/Approval/Commitment
Source and Uses of how funds will be spent
Business History and Background
Start-up Businesses
A business plan will be required.
One can be obtained for free through the Small Business Development Center (SBDC). The plan should be based on market conditions where the business will be located
A 3-year pro forma balance sheet and income statement
Cash flow statements with supporting information.
Loans
Loan amounts are up to $150,000.
Loans are usually for manufacturing, but any business venture should inquire.
Funds can be used for business start-up, buildings, additions, new and used equipment including upgrades as well as real estate purchases.
Commercial and retail related ventures can acquire
Rates are below market, call for our current rates!
Loan Terms
1% origination fee and $100 application fee
For Equipment: 5 to 10 years depending on loan amount
For Real Estate: Up to 10 years depending on the loan amount