LVEDC administers more than one dozen federal, state, and local financing programs. Our goal is to match borrowers with the best program and help them expertly navigate the application process. We are experts in bringing these resources together to maximize the benefit to you. Our staff will provide you with detailed information on the business loan programs that are applicable and will work directly with you to develop the most beneficial incentive package available.
Owner-occupied manufacturing, industrial, commercial or retail businesses and most minority-owned and operated businesses. Multiple occupancy possible with certain restrictions. Developers / builders may be eligible (w/ long term lease to eligible occupant).
Land & Building – acquisition, construction or renovation.
30 to 60 percent of eligible project costs. Minimum = $100,000. = up to $5.5 million or more.
15 to 20 years, in some cases will not exceed term of first mortgage.
Create/retain one job per $15,000 to $65,000.
Subordinate lien position possible, 10 to 20 percent equity required.
|SBA 504||4.850% (20 years) 4.374% (10 years)||5/21/15|