BENEFITS TO SMALL BUSINESS:
25 year, fixed-rate financing; Low fixed interest rate; 10% down payment typically (except single purpose and start-ups); Conserve working capital for business growth; Soft costs can be included in project financing; Most small businesses are eligible.
For-profit business located in the United States. Tangible net worth not in excess of $15 million and average net income after federal income taxes for the preceding two completed fiscal years of $5 million or less.
ELIGIBLE PROJECT COSTS:
Purchase of land (plus improvements); construction of new building(s); purchase of an existing building plus necessary renovations; acquire and install machinery/equipment with a useful life of 10 years; furniture and fixtures if essential to and a minor part of the project; and professional fees (title insurance and searches, surveys, environmental reports, appraisals, attorney fees, architect/engineering fees, interim interest and loan fees; etc.).