Services

This Program is comprised of two assistance components: Loans and Program Services. The maximum loan amount to any one Qualifying Business is $125,000.

Acceptable purposes for loans are acquisition of machinery and equipment; working capital; supplies and materials; inventory; and other business-related activity.  A line of credit will also be considered a loan under the Program.  Lending for the acquisition of real estate will not be an acceptable purpose for a loan.  The refinancing of any existing debt will not be considered an acceptable purpose for which a loan may be made under the Program.

The Program Services are in the form of technical assistance, education and consulting services to Qualifying Businesses that may or may not be making application for loans under the Program. Program Services include, but are not limited to, financial counseling, assistance with packaging of loan proposals, developing strategies for improved cash flow management, implementing internal financial management systems, and strategic planning, conducting pertinent training workshops and seminars, certifying Qualifying Businesses and identifying procurement opportunities with State, federal, and local government systems.