This is a loan program for fixed assets with a cap of $1,000,000. The interest rate will be negotiated with the lender, normally your own bank. The loan must be secured and has a ten to twenty year term. It requires 10% borrower equity, with the primary lender taking 50% of the loan and the SBA providing 40% funding using a secondary collateral position. The borrower must create one new job for every $35,000 loaned. This program has been successfully used for renovation or expansion of existing facilities using the net equity in a building to meet all or part of the borrower's down payment. Loan program is administered by a certified development corporation.

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