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| Uses | Capital to finance the start-up and growth phases of new lines of business, and expanding the geographic reach of current business lines, especially for early period costs of new real estate developments. | |
| Loan amount | Up to $2,000,000 | |
| Loan term |
3 to 5 years Loans may be term or revolving – please talk to your Loan Officer |
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| Interest rate | From 5.25%, depending on availability of collateral/security, loan term, complexity of the business plan, and sources of new cash flow for debt service | |
| Collateral/security |
Unsecured up to $500,000 Amounts greater than $500,000 can be secured by pledged cash (50% of advanced funds); real property; pledges of developer fees; UCC filings on specific asset; ownership interests; grant funds |
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| Repayment source | Corporate cash flow from existing, new, or expanded lines of business | |
| Fees |
Application Fee - $1,000 Origination Fee - 1.00% to 1.50% of loan amount |
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| Third-party reports |
Business plan, 5- to 7-year cash flow projections Appraisals and environmental assessments for real property collateral |
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