"Loans To Fit Your Small Business Needs."
| Microloan |
| Maximum Amount: |
$35,000 |
| Use of Proceeds: |
Equipment or working capital (no real estate) |
| Interest Rate: |
10% |
| Term: |
Maximum term is 6 years |
Business must agree to accept business advice and technical assistance.
(U.S. Small Business Administration (SBA) Program) |
| Revolving Loan Fund |
| Maximum Amount: |
$100,000 or 25% of total project costs (the lesser) |
| Use of Proceeds: |
Fixed assets or working capital |
| Interest Rate: |
2% below primary lender's rate |
| Term: |
The term must match the life of the financed asset. |
| Typical Package: |
65% from Bank, 25% from RLF, 10% equity injection |
| SBA Section 504 Loan |
| Maximum Amount: |
The lesser of $5,000,000 ($5,500,000 in certain situations) or 40% of project costs. |
| Use of Proceeds: |
Fixed asset financing (land, building, equipment) |
| Interest Rate: |
Fixed for the term of the loan |
| Term: |
10 years for equipment, 20 years for land and building |
| Typical Package: |
50% from Bank, 40% from 504, 10% equity injection |
| (U.S. Small Business Administration (SBA) Program) |
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Siouxland Economic Development Corporation
1106 Historic 4th Street, Suite 201
Sioux City, Iowa 51101
Phone 712-279-6430 • Fax 712-224-2510
This institution is an Equal Opportunity Provider.
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