Small Business First

Funding for small businesses, including: low-interest loan financing for land and building acquisition and construction; machinery and equipment purchases and working capital.

Guidelines:

• Small Business First Guidelines (Adobe PDF)
• ALO Certification Guidelines (Adobe PDF)

Uses:

Land and building acquisition and construction; Machinery and equipment purchase and upgrades; Working capital; Environmental compliance/pollution prevention

Funding:

Loans up to $200,000 or 50% of total eligible project costs, whichever is less; Maximum loan amount for working capital is $100,000 or 50% of total eligible project costs, whichever is less

Eligibility:

A for-profit small business (100 employees or less) which are: Manufacturing: Industrial; Agricultural enterprises; Research and development; Construction, advanced technology and computer-related services; Hotels, motels, or restaurants; Environmental compliance/pollution prevention; Municipal or commercial recyclers; Defense-related; Child development

Terms:

$25,000 cost per job retained or created; Up to 15 year term, for land and building; Up to 10 year term for machinery and equipment; Up to 3-year term for working capital. Current interest rate of 4.25% is effective through December 31, 2009.

Where to Apply:

Area Loan Organizations

Purpose of Funding:

• Land & Building
• Machinery & Equipment - Business
• Research & Development
• Working Capital