How may funds be used?
Loan purposes must be consistent with the general purpose contained in the regulation. They include but are not limited to the following:
  • Business and industrial acquisitions when the loan will keep the business from closing, prevent the loss of employment opportunities, or provide expanded job opportunities
  • Business conversion, enlargement, repair, modernization, or development
  • Purchase and development of land, easements, rights-of-way, buildings, or facilities
  • Purchase of equipment, leasehold improvements, machinery, supplies, or inventory

Show All Answers

1. Who may borrow?
2. How may funds be used?
3. What is the percentage of guarantee?
4. What are the loan amounts?
5. What are the loan terms?
6. What are the interest rates?
7. Is collateral required?
8. Annual renewal fee?
9. Where should applications be filed?