B U C K S C O U N T Y

Size: px
Start display at page:

Download "B U C K S C O U N T Y"

Transcription

1 B U C K S C O U N T Y

2 Robert G. Loughery Chairman Charles H. Martin Vice Chairman Diane M. Ellis-Marseglia, LCSW Brian Hessenthaler Chief Operating Officer Lynn T. Bush County Chief Clerk Executive Director, Planning Commission

3 The Bucks County Board of Commissioners introduced a new initiative to focus County resources on ensuring continued and expanded economic prosperity in Bucks County titled Bucks 2 Invest. As part of this initiative, the County Commissioners directed the Bucks County Industrial Development Authority to administer several financing programs: Bucks Guaranteed, Bucks Rebuilt, Bucks Renewed, Core Industry Fund, New Economy Fund, and Taste & Tour Bucks County. An additional financing program, VC4BC a venture capital fund, is administered in cooperation with the Ben Franklin Technology Partners of Southeastern PA. The following document provides guidance on the County s financing programs as well as information about the Bucks County Industrial Development Authority. You will find guidelines for each program as well as an application form for access to the low-interest loan funds available through the County s Bucks 2 Invest program. 1

4 WHAT WE DO The Bucks County Industrial Development Authority (BCIDA) is Bucks County s lead economic development agency and is directed by the Bucks County Board of Commissioners. We administer the economic development initiatives of the County Commissioners and work in partnership with many for- and not-for-profit organizations to support local businesses, enterprises, and entrepreneurs to locate, grow, and expand their businesses through a wide range of support services. A critical component of our mission is to provide qualified businesses with below market rate financing to grow and expand their operations and to create and retain family sustaining jobs. This includes, but is not limited to, land and building acquisition, site preparation and improvements, machinery and equipment purchases, working capital loans and financing for certain "soft costs" associated with larger scale development projects. The BCIDA also serves as a clearing house and One-Stop-Shop in linking businesses with other financial and technical resources available throughout Bucks County and the State. ABOUT US History The Bucks County Industrial Development Authority (BCIDA) was established in 1967 and since that time has been a leader in providing tax free financing to hundreds of industrial and manufacturing enterprises accounting for billions of dollars in new private investment and thousands of family sustaining jobs. In its capacity as the lead coordinator of economic development within the county, it has assisted in facilitating millions of dollars of Pennsylvania Industrial Development Authority (PIDA) financing, frequently as part of a larger financing package. It has also worked closely with the county s Redevelopment Authority in the designation of redevelopment areas, the success of the state supported Enterprise Zone Program and in the successful redevelopment of brownfield sites throughout the county. Currently, the BCIDA has nearly $10 million in federal and local loan funds under management. Board of Directors The Board of Directors is comprised of five members, each appointed by the Bucks County Board of Commissioners on a rotating schedule, serving five year terms. It is their responsibility to guide and direct the BCIDA in a way that promotes the growth of new and expanding businesses and family sustaining job creation throughout Bucks County. Mary K. Smithson, Chairman Bucks County Clerk of Courts since January 1996, Ms. Smithson has been affiliated with numerous professional and government organizations such as the Bucks County Records Improvement Committee and the St. Mary Medical Center Foundation. Pasquale T. Deon A Bucks County leading service-industry entrepreneur and restaurateur involved in real-estate development, radio broadcasting, and beverage distribution. Mr. Deon currently serves as Secretary-Treasurer of the Pennsylvania Turnpike Commission as well as the Chairman of the board for the Southeastern Pennsylvania Transportation Authority (SEPTA). 2

5 Michael J. Mabin President/CEO of PennFab, Inc. one of the region's most recognized Quality Metal Fabricators located in Bensalem, Bucks County. Stephen Worth President/CEO of Worth & Company, Inc., one of the most respected, full-service mechanical contracting companies in the Mid-Atlantic region located in Doylestown, Bucks County. Jennifer L. Yori Ms. Yori has been the Tax Collector for Lower Southampton Township since Our Staff Jorden P. (Pete) Krauss Executive Director Mr. Krauss has more than three decades experience in both the public and private sectors in designing, introducing and promoting a broad array of groundbreaking community and economic development initiatives, including the nationally recognized Pennsylvania Main Street Program and the Pennsylvania Enterprise Zone Program. Christine Mandes Executive Assistant Ms. Mandes, a resident of Bucks County, brings 20 years of excellent administrative experience to the IDA since its move to their new offices in Doylestown Township. Partners The BCIDA works with a broad array of partners in support of its mission of business growth and job creation. This includes coordinating efforts with related economic and community development agencies such as the Redevelopment Authority of the County of Bucks, and the county s nationally recognized Planning Commission to identify additional financial and technical resources new and expanding businesses may need to achieve their goals. We also work with the Chambers of Commerce in Lower, Central, and Upper Bucks County as well as with many of the local lenders in providing gap financing to enable businesses to secure the total funding they need for new investments. Another important partner is the Bucks County Community College, who s Department of Continuing Education, along with the county s Workforce Investment Board, allows us to match job training resources with the job creating needs of businesses looking to make new hires. This assistance ranges from certificate programs, to potential employee screening, to on-the-job and customized job training. An exciting new partner is the Ben Franklin Technology Partnership of Southeast Pennsylvania (BFTP/SEP). Working with Bucks County, this national leader in providing venture capital to new and expanding advanced technology firms will now match $2 million in state venture capital funds, with $2 million from a venture capital pool in the county s portfolio toward Bucks County based technology and advanced manufacturing firms. 3

6 OUR SERVICES Overview The Bucks County Industrial Development Authority serves as a clearing house, partner, and lender for businesses located in or seeking to start-up or expand in Bucks County. Whether your business is seeking to locate the ideal site, develop or redevelop land or buildings, needs money for working capital or machinery and equipment or to hire, train or retrain workers, we can help. Direct Resources The Bucks County Industrial Development Authority has nearly $10 million in discount financing under management in six distinct program funds directly administered for the County by our agency that can help your business grow and expand. One additional program, VC4BC is administered in partnership with the Ben Franklin Technology Partners of Southeastern, PA. The IDA also provides tax free financing as well. Available funding programs are listed and described below: Bucks Guaranteed Bucks Rebuilt Bucks Renewed Core Industry Fund New Economy Fund Taste & Tour Bucks County Tax Free Financing VC4BC (Venture Capital for Bucks County) Bucks Guaranteed In order to foster increased bank lending and leverage increased private investment in both equity and debt while reducing capital outlays from public financing programs, where demand traditionally outstrips available resources, Bucks County established a loan guarantee program backed by funds held by the various county economic development agencies or lenders. The program will target companies in the county that have a clear and demonstrated competitive advantage to grow and expand while providing workers with good jobs at living wages. Examples of acceptable uses for this program include reuse of greyfield and brownfield sites that require remediation as well as Main Street and downtown redevelopment related to smart growth; improvements to critical infrastructure, and related activities. Bucks Rebuilt The Bucks Rebuilt program focusses on restoring abandoned, underutilized, and unutilized industrial and manufacturing property to productive use. These types of loans will be used to target public resources to the redevelopment of properties in developed areas already well served by roads, rail, infrastructure and utilities and, where possible, public transportation. To reduce the pressure on Bucks County s remaining open spaces, natural resources, and scenic areas by concentrating redevelopment efforts on such sites as opposed to supporting greenfield development. Up to $500,000 may be invested in such projects at below market interest rates to a developer, municipality, or other eligible not-for-profit entity. Bucks Renewed The Bucks Renewed program was designed to leverage new investment in downtowns and Main Streets throughout Bucks County. The program will focus on rehabilitation and renewal of critical commercial, and where practicable, historic sites and local infrastructure that can spur renewed economic activity in our downtown areas. Up to $500,000 may be invested in such projects at below market interest rates to a developer, municipality, or other eligible not-for-profit entity for such purposes. 4

7 Core Industry Fund The Core Industry Fund has been established to provide direct financial resources to the entrepreneurial community, and small and medium sized businesses. The Fund will also focus on projects, initiatives, and investments that match workers to family sustaining jobs. Bucks County already possesses a pool of talented and skilled workers. By partnering with the Bucks County Community College, the Workforce Investment Board, technical schools, and four year academic institutions, borrowers will have access to assistance that will help them identify and hire qualified workers and train and retrain new and current workers in order to continually expand our pool of technical workers. In particular, funds will be made available to businesses seeking to grow and expand their enterprises in a way that incorporates the hiring of low to moderate income employees. The maximum loan amount may not exceed $400,000, except in cases which represent unique high wage and substantial job creation or result in the redevelopment of a major unutilized or underutilized site. New Economy Fund The purpose of the New Economy Fund is to direct public sector investments into private/public partnerships that promote new family sustaining jobs in areas where Bucks County enterprises have a competitive and comparative economic advantage, which absent public sector support would not otherwise occur or would not occur in as timely a fashion. Taste & Tour Bucks County The Taste & Tour program will provide low interest financing to help support agri-business and tourism communities as well as family-owned farms, farmer s markets, and the hospitality industry in Bucks County. Tax Free Financing The Bucks County Industrial Development Authority (BCIDA) can provide capital financing for manufacturing companies, exempt facilities and non- profit organizations, through its Industrial Revenue Bond and Mortgage Program, either through tax free mortgages for smaller projects or a stand-alone bond issue for larger ones. Both of these approaches can significantly reduce the borrowing costs of the borrowers. The Revenue Bond and Mortgage program can prove an attractive mechanism for financing new business and related expansions. But the program is governed by federal statute, so it is important to work closely an experienced and qualified team to do it right. Fortunately the BCIDA has nearly 40 years experience in raising hundreds of millions of dollars for qualified applicants through this program. These funds can be used for a wide array of purposes including Includes acquisition, site preparation and, infrastructure improvements, building construction, new machinery and equipment and the closing and soft costs traditionally associated with such projects. While there is no minimum size for tax-exempt mortgages or bonds, it is generally not economical to issue bonds for amounts under $1,000,000. Amounts under $1,000,000 can be funded through a tax-exempt mortgage however. The maximum size for a manufacturing project is $10 million. This cap does not apply to non- profits, which include such enterprises as nursing homes, health care facilities and educational facilities, or tax exempt facilities which include such things as solid waste disposal facilities, docks, hazardous waste disposal facilities, sewage facilities, and water and electricity furnishings facilities. Job creation is also required, with the both new and existing full-time permanent jobs, at the project site, being counted for this program. Existing jobs include jobs which will be transferred to the project site. Tax-exempt manufacturing projects must retain or create, within three years of the financing one full-time permanent job for every $50,000 of financing requested. Non-profit and exempt facility projects must retain or create, within three years of the financing, a total of at least ten full-time permanent jobs per financing. 5

8 VC4BC VC4BC (Venture Capital for Bucks County) is a partnership between the Bucks County Retirement Board and Ben Franklin Technology Partners of Southeastern, PA to invest $4 million in emerging and growing companies, located in or willing to locate in Bucks County, who are developing and commercializing advanced technologies. All VC4BC investment opportunities are evaluated through Ben Franklin s highly regarded, technology sector-specific review process, using many of the region s top technology experts and early stage investors. For additional information about applying to the VC4BC program, please contact the BCIDA or Terry Hicks, Vice President of the Investment Group for Ben Franklin, terry@sep.benfranklin.org, x3799. Additional Information For additional information about the Bucks County Industrial Development Authority or the County s financing programs, please contact: JORDEN P. (PETE) KRAUSS Executive Director 11 Welden Drive, Suite 100 Doylestown, Pennsylvania P F jpkrauss@buckscountyida.com OR MARGARET A. M c KEVITT Coordinator Economic Development & Planning Services Bucks County Planning Commission 1260 Almshouse Road Doylestown, Pennsylvania P F mamckevitt@co.bucks.pa.us 6

9 BUCKS REBUILT 2013 Loan Program Application Guidelines This document provides instructions for completing Bucks Rebuilt Loan Program applications. For additional information on this program and others please contact the Bucks County Industrial Development Authority at

10 BUCKS REBUILT APPLICATION GUIDELINES Program Overview The purpose of the Bucks Rebuilt program is to accomplish the following objectives: A. To restore, abandoned, underutilized and unutilized industrial and manufacturing property to productive use. B. To target public resources to the redevelopment of properties in developed areas already well served by roads, rail, infrastructure and utilities and, where possible, public transportation. C. To reduce the pressure on Bucks County s remaining open spaces, natural resources, and scenic areas by concentrating redevelopment efforts on such sites as opposed to supporting greenfield development. Applicant and Funding Eligibility Bucks Rebuilt Investments (BRI) will be limited to support for the acquisition, demolition, site clearance, infrastructure improvements and where possible, environmental clean-up of abandoned, underutilized and unutilized industrial, and manufacturing property. Up to $500,000 may be invested in such projects at below market interest rates to a developer, municipality, or other eligible not-for-profit entity. In no case can BRI funds represent more than 40 percent of total project costs. The length of the loan and the other terms will be subject to negotiation with the Bucks County Industrial Development Authority (BCIDA). Funds will be awarded by the BCIDA in cooperation with the County of Bucks. Project Eligibility Funds from this program can be used to: Acquire land and buildings Demolish abandoned, underutilized or unutilized buildings Site clearance Infrastructure improvements, including utilities, water, sewer, access roads and parking Environmental remediation, but only as part of an overall development project Eligible Uses Funds from this fund can only be used for hard costs associated with project development, for example: land and building acquisition, demolition, site clearance, infrastructure improvements, or similar investments. Soft costs, such as engineering, planning, legal, consulting, closing or similar costs must be borne by the borrower. Project Narrative Eligible applicants must submit a project narrative which describes why the funds are needed, how they will be used, and the measurable benefits that will result. The following information must be included in the Project Narrative: Application Completion of the BCIDA Loan Fund Application. Application Guidelines Page 1 of 2 09/2013

11 BUCKS REBUILT APPLICATION GUIDELINES Public Purpose This component must detail how the community as a whole benefits. Statement of Community Support A public meeting must be held at a convenient time so that the general public can attend, in order that affected residents have an opportunity to discuss the project and its effects. While this meeting must be separately advertised and conducted, it may be held either before or after a regularly scheduled municipal meeting. Project Budget Narrative Provide a narrative description of each budget line item, as found in the BCIDA Loan Fund Application addressing each line by funding source. Only costs associated with this project should be included in the budget. Municipal Resolution from the Local Government For applicants that are not local governments including all non-profit organizations and authorities. Evidence of Matching Funds Evidence of matching funds can be demonstrated in the form of award letters from federal and state agencies, commitments from financial institutions, private equity, and local government commitments. Project Map Map(s) of sufficient size and quality to describe the project location with regard to the nature of the application. Project Timeline Provide a project timeline that tracks the key activities and the dates necessary to achieving the project s goals and objectives. Cost Estimates Provide an estimate of how much the project will cost. The estimate should be on the letterhead of a credible third party, such as an engineer, private developer, or general contractor. Application Guidelines Page 2 of 2 09/2013

12 BUCKS RENEWED 2013 Loan Program Application Guidelines This document provides instructions for completing Downtown Revitalization Loan Program applications. For additional information on this program and others please contact the Bucks County Industrial Development Authority at

13 BUCKS RENEWED APPLICATION GUIDELINES Program Overview The Downtown Revitalization program was designed to leverage new investment in downtowns and Main Streets throughout Bucks County. The program will focus on rehabilitation and renewal of critical commercial, and where practicable, historic sites and local infrastructure that can spur renewed economic activity in our downtown areas. The goals of the program are: A. To preserve and strengthen the historic and organic nature of our downtown centers by promoting and supporting our existing retail, commercial, and cultural enterprises. B. To improve quality of life by making traditional downtowns more attractive as a place where residents and guests come to live, work, and visit. C. To act as a catalyst for small business development, in order to increase employment and tax revenues in traditional downtown locations. D. To utilize a comprehensive planning and management process that will accomplish the following: 1. Establish a strong relationship between local merchants, residents, and businesses as well as civic leaders. 2. Ensure that development projects funded with public and private monies result in lasting improvements that are part of a larger mission to make a meaningful difference in the economy of the downtown area. Applicant and Funding Eligibility Generally, Downtown Revitalization Investments (DRI) will be limited to renovations to a significant downtown building, or a project that represents core improvements in a well thought out downtown revitalization plan. Up to $500,000 may be invested in such projects at below market interest rates to a developer, municipality, or other eligible not-for-profit entity for such purposes. In no case can DRI funds represent more than 40 percent of total project costs. The length of the loan and the other terms will be subject to negotiation with the Bucks County Industrial Development Authority (BCIDA). Funds will be awarded by the BCIDA in cooperation with the County of Bucks. Project Eligibility Funds from this program can be used to: Acquire, adapt, restore, and/or revitalize a building of significant commercial, historic, or cultural value. Make infrastructure or site improvements that will improve access, use, or viewscapes which will result in a demonstrable improvement to the downtown experience. Undertake innovative investments, such as the re-purposing of alleyways or the backs of buildings to provide a second front door for downtown consumers and guests. Assist in financing a façade improvement fund, but only for occupied buildings that are already engaged in commercial enterprises, where the improvements are part of an overall merchandizing and revitalization plan, and where there is a 4 to1 private to public dollar match in funding. Application Guidelines Page 1 of 2 07/2013

14 BUCKS RENEWED APPLICATION GUIDELINES Assist in financing investments in upper stories of downtown commercial buildings that will result in an income stream for merchants and affordable housing or other commercial uses which will strengthen the downtown economy. Examples for Use of Funds Eligible (Hard Costs) Building acquisition Interior demolition Building improvements Infrastructure Façade Site improvements Ineligible (Soft Costs) Engineering Planning Legal Consulting Project Narrative Eligible applicants must submit a project narrative which describes why the funds are needed, how they will be spent, and the measurable benefits that will result. The information must be included in the Project Narrative: Public Purpose This component must detail how the community as a whole benefits. Statement of Community Support A public meeting must be held at a convenient time for the general public to attend, in order that affected residents have an opportunity to discuss the project and its effects. While this meeting must be separately advertised and conducted, it may be held either before or after a regularly scheduled municipal meeting. Project Budget Narrative Provide a narrative description of each budget line item, addressing each line by funding source. Only costs associated with this project should be included in the budget. Municipal Resolution from the Local Government For applicants that are not local governments including all non-profit organizations and authorities. Evidence of Matching Funds Evidence of matching funds can be demonstrated in the form of award letters from federal and state agencies, commitments from financial institutions, private equity, and local government commitments. Project Map Map(s) of sufficient size and quality to describe the project location with regard to the nature of the application. Project Timeline Provide a project timeline that tracks the key activities and the dates necessary to achieving the project s goals and objectives. Cost Estimates Provide an estimate of how much the project will cost. The estimate should be on the letterhead of a credible third party, such as an engineer, private developer, or general contractor. Application Guidelines Page 2 of 2 07/2013

15 CORE INDUSTRY FUND 2013 Loan Program Application Guidelines This document provides instructions for completing Core Industry Fund Loan applications. For additional information on this program and others please contact the Bucks County Industrial Development Authority at

16 CORE INDUSTRY FUND APPLICATION GUIDELINES Program Overview The Core Industry Fund has been established to provide direct financial resources to the entrepreneurial community, and small and medium sized businesses. Of the 31,660 individual employers in Bucks County, 27,000 employers have fewer than 20 employees, or roughly 85 percent of all Bucks County businesses. Many of these businesses are in the high projected growth areas. Unless a concerted effort is made to target these businesses, identify their specific needs, and address those needs, Bucks County is in danger of losing the baseball equivalent of its economic farm team. The Fund will also focus on projects, initiatives, and investments that match workers to family sustaining jobs. Bucks County already possesses a pool of talented and skilled workers. By partnering with the Bucks County Community College, the Workforce Investment Board, technical schools, and four year academic institutions, borrowers will have access to assistance that will help them identify and hire qualified workers and train and retrain new and current workers in order to continually expand our pool of technical workers. In particular, funds will be made available to businesses seeking to grow and expand their enterprises in a way that incorporates the hiring of low to moderate income employees. Core Industry Fund Investments Financing from the Fund will generally focus on the following types of lending: Building and/or site acquisition Machinery and equipment Working capital Inventory The maximum loan amount may not exceed $400,000, except in cases which represent unique high wage and substantial job creation or result in the redevelopment of a major unutilized or underutilized site, as determined by the Board of Directors of the Bucks County Industrial Development Authority (BCIDA). Acceptable repayment terms will generally be no greater than a 10-year balloon and 20-year amortization for building and/or site acquisition and a 7-year term with a 5-year balloon for machinery and equipment. For working capital, including training and export assistance, the term will be 5-years with a 3-year balloon, except that upon review and recommendation of the Loan Review Committee and approval of the BCIDA Board, these repayment provisions may be modified. Inventory loans will be no longer than 18 months. The interest rate charged will be negotiated based on underwriting risks and financial strength of the applicant, but all loans will be below the prime rate as published in the Wall Street Journal and not greater than the rate available through the Pennsylvania Industrial Development Authority (PIDA) program. The BCIDA is responsible for diligently reviewing the business information it receives, including the collateral available for a given loan. The BCIDA will review the financial statements, business plan, and all other necessary information with respect to the borrower in order to conduct a prudent and reasonable assessment of the borrower's ability to repay the loan. The applicant must agree that the loan will result in one new job created and/or retained for each $35,000 of funds borrowed. And that 51 percent of the jobs created through this program will be made available to low and moderate income individuals. For the purposes of this Fund, a low income person is one earning $27,750 a year and a moderate income person is one earning $44,350 per year. (Note: These numbers are updated on an annual basis.) Certain exceptions are permitted, where the applicant meets other critical public policy objectives, such as acquiring and/or demolishing a blighted building or acquiring a blighted site that will be cleared, cleaned and renewed. Application Guidelines Page 1 of 2 11/2013

17 CORE INDUSTRY FUND APPLICATION GUIDELINES Funding Eligibility Funds from this program can be used to: Acquire land and buildings Demolish abandoned, underutilized, or unutilized buildings Site clearance Infrastructure improvements including utilities, water, sewer, access roads, and parking Environmental remediation only as part of an overall development project Machinery and equipment financing Working capital loans Eligible Uses Funds from this fund can be used for hard costs associated with project development, for example: land and building acquisition, demolition, site clearance, infrastructure improvements, or similar investments as well as certain soft costs, such as engineering, planning, legal, consulting, closing or similar costs in projects that include acquisition, demolition and/or construction. Project Submission and Approval Eligible applicants must submit a completed BCIDA Loan Fund Application along with all required appendices in order for the BCIDA s Loan Review Committee to underwrite the proposed project. Once this has been completed and the loan has been recommended to and approved by the full BCIDA Board of Directors, the following steps will occur: Notice of Award The Executive Director, acting on behalf of the BCIDA Board of Directors, will notify the applicant of the approved loan. Loan Documentation Counsel for the BCIDA shall prepare appropriate loan documentation which may include loan agreements, promissory notes, and security documents such as mortgages or security agreements with UCC filings, guarantees, title insurance and/or assignment of life insurance. Repayment Schedule The loan documentation shall include the agreed upon repayment schedule. Evidence of Permits, etc. Documentation must be provided by the applicant that all necessary permits, licenses, and any other registrations required have been obtained by the applicant prior to the release of funds, where such documents are required. Loan Closing Counsel for the BCIDA will schedule a loan closing. All loan documentation will be executed prior to fund disbursal and all security documents shall be recorded where necessary. Disbursement of Funds The funds will be disbursed to a borrower in accordance with the terms of the loan documentation. Annual Project Follow-up Recipients of these funds will be required to report annually on their progress in meeting the job creation and retentions goals as set forth in their approved loan application until those goals are met. Application Guidelines Page 2 of 2 11/2013

18 NEW ECONOMY FUND Public/Private Partnership 2013 Loan Program Application Guidelines This document provides instructions for completing New Economy Fund Loan applications. For additional information on this program and others please contact the Bucks County Industrial Development Authority at

19 NEW ECONOMY FUND APPLICATION GUIDELINES Program Overview The purpose of the New Economy Fund is to direct public sector investments into private/public partnerships that promote new family sustaining jobs in areas where Bucks County enterprises have a competitive and comparative economic advantage, which absent public sector support would not otherwise occur or would not occur in as timely a fashion. In order to accomplish this, resources will be directed toward the following initiatives: A. Support and encourage the revitalization and adaptive reuse of older, vacant, and abandoned or underutilized industrial and manufacturing facilities. B. Utilize the county s strength as a major freight center, in road, rail and water. C. Capitalize on the good job opportunities and sustainable wages in areas including, but not limited to, biotechnology, life sciences, transportation, advanced manufacturing, distribution and related support enterprises in management, logistics and Information technology. D. Build on the County s comparative economic advantage in the fields of healthcare, medical device manufacturing and health care delivery. E. Promote job creation in sustainable wage and high skilled jobs essential to retain our young adult cohort the future business and civic leaders, entrepreneurs and innovators Buck County will need to support a 21st Century economy. Funding Eligibility Funds from this program can be used to: Acquire land and buildings Demolish abandoned, underutilized, or unutilized buildings Site clearance Infrastructure improvements, including utilities, water, sewer, access roads and parking Environmental remediation only as part of an overall development project Machinery and equipment financing Working capital loans Eligible Uses Funds from this program can be used for hard costs associated with project development, for example: land and building acquisition, demolition, site clearance, infrastructure improvements, or similar investments as well as certain soft costs, such as engineering, planning, legal, consulting, closing or similar costs in projects that include acquisition, demolition and/or construction. Project Submission and Approval Eligible applicants must submit a completed Bucks County Industrial Development Authority (BCIDA) Loan Fund Application along with all required appendices, in order for the BCIDA s Loan Review Committee to Application Guidelines Page 1 of 2 10/2013

20 NEW ECONOMY FUND APPLICATION GUIDELINES underwrite the proposed project. Once this has been completed and the loan has been recommended to and approved by the full BCIDA Board of Directors, the following steps will occur: Notice of Award The Executive Director, acting on behalf of the BCIDA Board of Directors, will notify the applicant of the approved loan. Loan Documentation Counsel for the BCIDA shall prepare appropriate loan documentation which may include loan agreements, promissory notes, and security documents such as mortgages or security agreements with UCC filings, guarantees, title insurance and/or assignment of life insurance. Repayment Schedule The loan documentation shall include the agreed upon repayment schedule. Evidence of Permits, etc. Documentation must be provided by the applicant that all necessary permits, licenses, and any other registrations required have been obtained by the applicant prior to the release of funds. Loan Closing Counsel for the BCIDA will schedule a loan closing. All loan documentation will be executed prior to fund disbursal and all security documents shall be recorded where necessary. Disbursement of Funds The funds will be disbursed to a borrower in accordance with the terms of the loan documentation. Application Guidelines Page 2 of 2 10/2013

21 Interest Rates and Loan Terms While loan rates, terms, and conditions are determined on a case-by-case basis, based upon the financial strength of the borrower and the underwriting principals, the overall mission of the Bucks County Industrial Development Authority (BCIDA) is to actively promote a strong and vibrant economy through new business investment and robust job creation and retention. For that reason, our underwriting allows for a greater risk than commercial banks will generally accept and loans made by the BCIDA involve discounted financing, ordinarily ½ percent below the current prime rate, with an amortization or repayment schedule tied to the life of the asset. Generally the rates and terms are as follows: Land & Building Machinery & Equipment Working Capital 20 year amortization with 10 year balloon payment 7 year amortization with 5 year balloon payment 5 year amortization with 3 year balloon payment Fees Non-Refundable Application Fee as follows: Loans up to $100,000 $ Loans up to $200,000 $ Loans from $200,001 up to $500,000 $1, Loans from $500,001 and up $1, Placement Fee One percent (1%) of loan payable at closing (may be modified upon approval of the BCIDA) in addition to related and necessary legal fees, including document preparation and processing. 07/2013

22 PROCEDURES Application Form A request for a loan will not be considered until the attached application form is completed and all required exhibits are submitted. The application form should be completed according to the instructions provided, and exhibits should be attached according to the index of exhibits at the end of the application form. A separate application should be prepared for each proposed project. Submission of Application Forward the original and two copies of the completed application to: Notice of Receipt of Application Bucks County Industrial Development Authority Suite Welden Drive Doylestown, PA Bucks County Industrial Development Authority (BCIDA) staff will review the application for completeness and eligibility and will notify the applicant when a complete application has been received and is acceptable for processing. Where applications lack required information or where additional materials are needed, BCIDA staff will devote a reasonable amount of time to work with the applicant to assist in completing the application. However, applications that are unable to meet required qualifications will not be considered by the BCIDA Loan Review Committee. In addition, applicants may provide, or may be asked to provide, additional clarifying information during initial review of the application. Any additional information must be provided to the BCIDA when requested. Review and Recommendation Once a completed application has been received, the loan request will be scheduled for consideration at the next regularly scheduled BCIDA Loan Review Committee meeting. Meetings will generally be held once every month at the BCIDA offices. Applicants whose loan is under consideration may be asked to attend. Questions Any questions on the status of an application should be directed to BCIDA staff at BCIDA 07/2013 Page 1 of 10

23 LOAN FUND APPLICATION 1. Legal Name and Address of Applicant Name: Address: City: State: Zip: Contact Person: Telephone Number: Title: Address: 2. Project Location: 3. Type of Project: 4. Description of Business: Industrial Commercial Retail Bucks Enterprise Zone Brownfield Main Street DUNS # 5. Federal Tax Identification Number: or Borrower s Social Security Number: 6. Form of Organization of Borrower(s): Please check the appropriate category. Individual Proprietorship Partnership: General Limited C Corporation: Private Public S Corporation Date of Incorporation State LLC LLP Other Explain: 7. Is the company wholly or partly owned by any other business? No Yes Explain: 8. Loan Amount Requested: $ BCIDA 07/2013 Page 2 of 10

24 PROJECT DESCRIPTION 1. Project Location Common Address: Tax Parcel Number(s): Site Size: Building(s) Size: Attach EXHIBIT 1 a copy of the Legal Description, Survey, and Site Plan for acquisition/construction. 2. Describe the nature of the project in one paragraph (acquisition of buildings, machinery, new construction or rehabilitation, business expansion or development). If the project is commercial, indicate lead tenant(s) or users committed to date: 3. Explain why the BCIDA loan is necessary to your company or project: BCIDA 07/2013 Page 3 of 10

25 4. Sources and Uses of Funds Use Total Amount BCIDA Loan Debt Equity Purchase of Land $ $ $ $ Purchase of Existing Facility $ $ $ $ Demolition/Rehabilitation $ $ $ $ New Construction $ $ $ $ Working Capital $ $ $ $ New Machinery and Equipment $ $ $ $ Legal/Accounting Fees $ $ $ $ Architect/Engineering Fees $ $ $ $ Contingency/Other $ $ $ $ Total $ $ $ $ 5. Attach form of property control (option, contract, lease, fee simple, etc.) as EXHIBIT Attach detailed cost estimates of equipment, machinery, rehabilitation, or construction as EXHIBIT 3. For property acquisition, a recent appraisal by a Qualified MAI Appraiser is required as EXHIBIT 8. FINANCING INFORMATION 1. Private Lender Information: Amount of Loan: Rate/Term: Lender: Address: Contact Person: Telephone Number: Please Note: Funds will generally only be provided if the lender and the borrower offer firm commitments (See EXHIBIT 5, Draft Commitment Letter) to participate, and the borrower demonstrates that it has the financial capacity to deliver the resources to which it has committed. The applicant must provide evidence of both firm commitment and financial capacity. In addition to the general provisions, lender commitment letters should include a description of the type of loan (e.g. first mortgage, permanent financing, construction financing, etc.) which the lender is proposing to make, the status (approved, conditionally approved) of the loan, and any special conditions of the loan including the amount, interest rate, term, and collateral. If the issuance of bonds is involved in the financing of the proposed project, attach a copy of the inducement resolution from the issuing entity and a letter from the proposed underwriter or investor committing to purchase the bonds. Such letter must include the amount and use of bond funds and all terms and conditions of purchase 2. Equity Equity Amount: Source: BCIDA 07/2013 Page 4 of 10

26 BORROWER INFORMATION 1. Background of Borrower (Briefly describe the borrower s experience within the industry or with similar projects and the management and personnel responsible for project implementation.): 2. Attach the latest financial statement (dated within 3 months of application date) and financial statements for the last 2 years as EXHIBIT Attach detailed business projections as EXHIBIT Bucks County Industrial Development Authority Loan Request Amount of Loan Requested: $ Proposed Amortization Schedule: Proposed Term: Proposed Rate: Collateral: 5. Other Terms and Conditions: 6. Permanent Job Creation and Retention Number of jobs currently at project site After completion One year after completion Three years after completion Number of permanent jobs created Full-Time Jobs Part-Time Jobs Estimated Payroll Explain basis for job creation estimates: BCIDA 07/2013 Page 5 of 10

27 Describe the types of full time permanent jobs to be created, by category, number, skilled or unskilled and income. (for example Construction, Office and administrative support, Building Maintenance, Healthcare, Hospitality, Production, Protective Services, Skilled Trades, Transportation and/or Warehousing, Technical, Managerial, Supervisory) Job Category Number Skilled/ Unskilled Hourly wage or Salary PROJECT SCHEDULE List the projected schedule for completion. If the proposed project has more than two phases please replicate and complete the form for additional phases. Phase 1: Starting Date Estimated Project Expenditures Completion Date Property Acquisition Private Construction or Rehabilitation Equipment Purchase Working Capital Phase 2: Starting Date Estimated Project Expenditures Completion Date Property Acquisition Private Construction or Rehabilitation Equipment Purchase Working Capital BCIDA 07/2013 Page 6 of 10

28 EXHIBITS Please provide the following list of EXHIBITS: EXHIBIT 1: EXHIBIT 2: EXHIBIT 3: EXHIBIT 4: EXHIBIT 5: EXHIBIT 6: EXHIBIT 7: EXHIBIT 8: EXHIBIT 9: Legal Description, Survey, and Site Plan for acquisition/construction Form of Property Control Cost Estimates of Equipment, Rehabilitation, and Construction Lender Commitment Borrower Commitment Certified Financial Statements or 2 years most recent Federal Tax Returns Business Projections / Pro forma For property Acquisition, a recent appraisal by a Qualified MAI Appraiser Personal Guarantee, only when required by the Loan Review Committee BCIDA 07/2013 Page 7 of 10

29 EXHIBIT 4: SAMPLE LENDER COMMITMENT (Date) Re: (Project Name) Dear (Developer/Firm): The (lender) commits to provide a loan in an amount not to exceed $ to (borrower) for purposes of providing funds for the (project description) located at (address), Bucks County, Pennsylvania. The terms of the loan are as follows: Describe or list the following: Maturity Amortization schedule/repayment schedule Interest rate Prepayment Finance Fees Security Guarantees (if necessary) Other terms as set forth by the lender The loan commitment is subject to the following conditions: (Describe the conditions under which the lender is making the commitment. Note: For purposes of BCIDA approval, all conditions must be satisfied in order for BCIDA to commit its funds. An acceptable outstanding contingent condition would be the developer s receipt of BCIDA funds.) Sincerely, Signature Title Name of Lending Institution Accepted by the borrower: Signature Title Date BCIDA 07/2013 Page 8 of 10

30 EXHIBIT 5: SAMPLE BORROWER COMMITMENT (Date) Bucks County Industrial Development Authority Suite Welden Drive Doylestown, PA Re: (Project Name) Dear Chairman: Subject to the BCIDA's participation of $ the following investments... Describe or list the following: Location of the project Type of property control Project costs and proposed sources of funds, all identified clearly Proposed terms of repayment of revolving loan fund per the undersigned agrees to As a result of the development described above, the undersigned will commit its best efforts to create (retain) x number of jobs over a year/month period (include a brief explanation of the rationale for job creation projections). BCIDA participation in financing is necessary because (list the reasons why BCIDA loan funds are necessary). The undersigned is willing to sign a legally binding commitment upon award of the funds. As title of signatory, the undersigned has the authority to commit the organization. As a result of the receipt of funds in the amount of $, the above described investments, job creation, and operations will occur within the County of Bucks over a month period beginning and ending. Sincerely, Signature Title Company/Organization BCIDA 07/2013 Page 9 of 10

31 ANNUAL FOLLOW-UP Instructions This follow-up form must be returned to the BCIDA 12 months after issuance of the loan. Under Project Benefits, indicate the number of jobs created, the amount of real estate and sales taxes, and the level of investment directly resulting from the project for which the original loan was taken. The first column is for the projections listed on the original Loan Fund application, the second column should reflect actual jobs, taxes, and investment to date, and the third column is for projections for the next 24 months. Under Additional Benefits, please list other benefits from the project including non-quantifiable benefits. Project Information 1. Name of Borrower: 2. Address of Borrower: 3. Contact Person: Telephone: 4. Project Location (if different from above): Project Benefits Jobs created and/or retained Real Estate taxes Sales and/or income taxes New Investment Estimate from Application Actual to Date Estimated Over Next 24 Months Additional Benefits Please list all additional benefits from the project. (For example, removal of blight.) Submitted by: Date: Please return to: Bucks County Industrial Development Authority Suite 100, 11 Welden Drive Doylestown, PA Phone: Fax: BCIDA 07/2013 Page 10 of 10

Funding Your Business

Funding Your Business Page 12 County of Bucks Community Services Division Lynn T. Bush, Executive Director and County Chief Clerk Community and Business Development Department Vitor A. Vicente, Director Neshaminy Manor Center

More information

ECONOMIC RECOVERY BOARD FOR CAMDEN

ECONOMIC RECOVERY BOARD FOR CAMDEN ECONOMIC RECOVERY BOARD FOR CAMDEN GUIDE TO PROGRAM FUNDS April 2012 The Economic Recovery Board for Camden ( ERB ) is a subsidiary of the New Jersey Economic Development Authority. For further information

More information

How To Get A Farm Loan In Illinois

How To Get A Farm Loan In Illinois A Guide for Federal, State and Regional Loan Incentive and Grant s for Business and Economic PROGRAM TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction

More information

Revolving Loan Fund for Commercial Development Summary*

Revolving Loan Fund for Commercial Development Summary* Owatonna Economic Development Authority (EDA) City of Owatonna Revolving Loan Fund for Commercial Development Summary* Program Purpose: How It Works: Project Eligibility: Minimum Requirements: Use of Funds:

More information

ILLINOIS BUSINESS FINANCING MATRIX

ILLINOIS BUSINESS FINANCING MATRIX A Guide of Federal, State and Regional Loan Incentive and Grant s for Business and Economic TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction of

More information

OLR RESEARCH REPORT ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS. By: Michelle Kirby, Associate Analyst

OLR RESEARCH REPORT ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS. By: Michelle Kirby, Associate Analyst OLR RESEARCH REPORT February 19, 2013 2013-R-0054 ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS By: Michelle Kirby, Associate Analyst You asked for an analysis of state small business loan guarantee

More information

CITY OF TULLAHOMA COMMERCIAL REVOLVING LOAN FUND

CITY OF TULLAHOMA COMMERCIAL REVOLVING LOAN FUND CITY OF TULLAHOMA COMMERCIAL REVOLVING LOAN FUND Dear Applicant: The Commercial Revolving Loan Program is an economic development tool administered by the City of Tullahoma. The program provides loans

More information

Financing Downtown Businesses

Financing Downtown Businesses Financing Downtown Businesses Presented by: David Kircher 1 Wisconsin Business Development Finance Corporation Certified Development Company Authorized to work with SBA 504 Program Fixed Asset Financing

More information

City of Mequon Town Center

City of Mequon Town Center City of Mequon Town Center Business Development Loan Program Participating Partners: City of Mequon First Bank Financial Centre Funding Source: Public/Bank Consortium Description: A revolving loan fund

More information

Welcome. From the President. To the Residents of Cook County,

Welcome. From the President. To the Residents of Cook County, Welcome From the President To the Residents of Cook County, Cook County is the economic engine that drives our region. It holds the majority of the region's jobs, population and businesses. Economic development

More information

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION Created in proud partnership with BUSINESS DEVELOPMENT LOAN POOL (BDLP) Milwaukee Downtown,

More information

COUNTY OF CHESTER TAX EXEMPT BOND & MORTGAGE FINANCING

COUNTY OF CHESTER TAX EXEMPT BOND & MORTGAGE FINANCING COUNTY OF CHESTER TAX EXEMPT BOND & MORTGAGE FINANCING Chester County Industrial Development Authority 737 Constitution Drive, Exton, Pa 19341 Gary W. Smith, President and CEO Phone: 610-458-5700 Fax:

More information

Revolving Loan Fund for Industrial Development Summary *

Revolving Loan Fund for Industrial Development Summary * Owatonna Economic Development Authority (EDA) City of Owatonna Revolving Loan Fund for Industrial Development Summary * Program Purpose: How It Works: Project Eligibility: Minimum Requirements: Use of

More information

BUSINESS FINANCING SOLUTIONS

BUSINESS FINANCING SOLUTIONS BUSINESS FINANCING SOLUTIONS for borrowers Providing Lehigh Valley businesses with the resources they need to succeed. rates as low as 2 percent Flexicon received PIDA financing through LVEDC and its partners.

More information

Greater Chestertown Initiative Revolving Loan Application Open for Business in Chestertown

Greater Chestertown Initiative Revolving Loan Application Open for Business in Chestertown Greater Chestertown Initiative Revolving Loan Application Open for Business in Chestertown The Greater Chestertown Initiative (GCI) Revolving Loan Fund was established by the GCI and SFW Foundation to

More information

BUSINESS DEVELOPEMENT LOAN FUND PROGRAM

BUSINESS DEVELOPEMENT LOAN FUND PROGRAM BUSINESS DEVELOPEMENT LOAN FUND PROGRAM Program Guidelines and Operating Criteria 1. STATEMENT OF PURPOSE The BDF Economic Adjustment Revolving Loan Fund Program is designed to stimulate the creation and

More information

CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE

CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE CITY OF GOTHENBURG DOWNTOWN REVITALIZATION PROJECT Revolving Loan Program PURPOSE The purpose of this plan is to establish policies, application forms, approval procedures, and administrative support for

More information

Franklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines

Franklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines Franklin-Southampton Economic Development, Inc. and the SunTrust Foundation Small Business Loan Guidelines Program Sponsors and Key Stakeholders The Micro Loan Program (MLP) is sponsored by the SunTrust

More information

The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing

The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing Commercial Lenders The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing The FFCFC 504 Loan Program is designed to help small business owners expand through the purchase

More information

SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN

SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN Citizens Research Council of Michigan SURVEY OF ECONOMIC DEVELOPMENT PROGRAMS IN MICHIGAN 2ND EDITION June 2007 Repor ort 347 CITIZENS RESEARCH COUNCIL OF MICHIGAN MAIN OFFICE 38777 West Six Mile Road,

More information

ROSEAU EDA REVOLVING LOAN FUND LENDING GUIDELINES (CITY/USDA FUNDS)

ROSEAU EDA REVOLVING LOAN FUND LENDING GUIDELINES (CITY/USDA FUNDS) ROSEAU EDA REVOLVING LOAN FUND LENDING GUIDELINES (CITY/USDA FUNDS) Background I. Eligible Borrowers A. Existing and potential start-up businesses, located in the city limits of Roseau, who can demonstrate

More information

Swift County Loan Program Guidelines and Application

Swift County Loan Program Guidelines and Application Swift County Rural Development Authority 1228 Atlantic Ave Benson MN 56215 Swift County Loan Program Guidelines and Application Swift County RDA 1228 Atlantic Ave Benson MN 56215 320-842-4769 rda@co.swift.mn.us

More information

TAX-EXEMPT REVENUE BONDS for Non-Profits

TAX-EXEMPT REVENUE BONDS for Non-Profits VERMONT ECONOMIC DEVELOPMENT AUTHORITY TAX-EXEMPT REVENUE BONDS for Non-Profits SUBCHAPTER 4 Page: 1-W REVENUE BONDS for Non-Profits SUBCHAPTER 4 The Vermont Economic Development Authority (VEDA) was created

More information

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 CITY OF NEWARK SECTION 108 LOAN PROGRAM DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 A Program Financed Under the U.S. Department of Housing & Urban Development Section

More information

Pennsylvania Minority Business Development Authority Loan

Pennsylvania Minority Business Development Authority Loan Pennsylvania Minority Business Development Authority Loan Program Guidelines November 2015 Commonwealth of Pennsylvania Tom Wolf, Governor Department of Community & Economic Development Table of Contents

More information

DEPARTMENT OF COMMERCE REVOLVING LOAN FUND (RLF) SUMMARY

DEPARTMENT OF COMMERCE REVOLVING LOAN FUND (RLF) SUMMARY DEPARTMENT OF COMMERCE REVOLVING LOAN FUND (RLF) SUMMARY The Revolving Loan Fund (RLF) program is designated to make direct business loans with other financing sources (public sector loans, governmental

More information

TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518

TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518 TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518 Dale Kroop, Director TO ALL INTERESTED LOAN APPLICANTS NOTICE OF AVAILABLE FUNDS SMALL

More information

BUSINESS REVOLVING LOAN FUND PROGRAM ADMINISTRATIVE GUIDELINES

BUSINESS REVOLVING LOAN FUND PROGRAM ADMINISTRATIVE GUIDELINES BUSINESS REVOLVING LOAN FUND PROGRAM ADMINISTRATIVE GUIDELINES OBJECTIVES: A. Stimulate development and expansion of new and existing small and medium-sized businesses located within the City of Lorain.

More information

Welcome to Auburn, NY

Welcome to Auburn, NY CAPITAL FINANCING Need help financing your business? Public lending programs were created to help small businesses access the capital they need to achieve their business goals. Locally administered programs

More information

Machinery and Equipment Loan Fund

Machinery and Equipment Loan Fund PA TM PENNSYLVANIA come invent the future Machinery and Equipment Loan Fund Program Guidelines Commonwealth of Pennsylvania Tom Ridge, Governor www.state.pa.us Department of Community and Economic Development

More information

Burlington County Route 130/Delaware River Corridor Economic Development Fund Revolving Loan Program

Burlington County Route 130/Delaware River Corridor Economic Development Fund Revolving Loan Program Burlington County Route 130/Delaware River Corridor Economic Development Fund Revolving Loan Program Thank you for requesting an application for a Burlington County Route 130/Delaware River Corridor loan.

More information

Page 1 of 9 MICROLOAN RULES AND REGULATIONS

Page 1 of 9 MICROLOAN RULES AND REGULATIONS Page 1 of 9 MICROLOAN RULES AND REGULATIONS Micro Loans will be made available to small businesses located in or locating in, the City of Darlington. The Darlington Downtown Revitalization Association

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM

VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM VILLAGE OF GRAFTON DOWNTOWN BUSINESS DEVELOPMENT LOAN PROGRAM PARTICIPATING PARTNERS Village of Grafton First Bank Financial Centre FUNDING SOURCE Government/Bank Consortium DESCRIPTION A revolving loan

More information

Appendix V ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE IN OZAUKEE COUNTY. (See Part 2 in Chapter XII for Additional Programs)

Appendix V ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE IN OZAUKEE COUNTY. (See Part 2 in Chapter XII for Additional Programs) Appendix V ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE IN OZAUKEE COUNTY (See Part 2 in Chapter XII for Additional Programs) Wisconsin Department of Commerce Programs Industrial Revenue Bond (IRB)

More information

CITY OF BEATRICE, NEBRASKA ECONOMIC DEVELOPMENT PROGRAM (LB840)

CITY OF BEATRICE, NEBRASKA ECONOMIC DEVELOPMENT PROGRAM (LB840) CITY OF BEATRICE, NEBRASKA ECONOMIC DEVELOPMENT PROGRAM (LB840) Effective April 1, 2013 March 31, 2023 TABLE OF CONTENTS NEED AND PURPOSE 1 SECTION I. GENERAL COMMUNITY AND ECONOMIC DEVELOPMENT STRATEGY

More information

LOAN PACKAGE REQUIREMENTS

LOAN PACKAGE REQUIREMENTS Thank you for requesting an application for a Burlington County Small Business loan. The Burlington County Small Business Loan Program is for businesses located in or relocating to Burlington County. This

More information

THE BUSINESS INCENTIVES REPORT

THE BUSINESS INCENTIVES REPORT THE BUSINESS INCENTIVES REPORT CONTENTS Introduction... 4 Regional Economic Development Councils... 6 The Buffalo Billion... 8 Tax-Free Incentives... 9 New York State Certified Business Incubator and

More information

Brownfields Redevelopment Fund Asbestos and Lead Paint Abatement Application

Brownfields Redevelopment Fund Asbestos and Lead Paint Abatement Application Brownfields Redevelopment Fund Asbestos and Lead Paint Abatement Application Please fill in all applicable information in the spaces provided. If additional space is required to answer any question, please

More information

BUSINESS DEVELOPMENT LOAN PROGRAM

BUSINESS DEVELOPMENT LOAN PROGRAM BUSINESS DEVELOPMENT LOAN PROGRAM Overview Established in 2013, the Business Development Loan Program provides below market rates and favorable terms for new and existing businesses located in the Town

More information

Project Financing Tools

Project Financing Tools OVERVIEW The City of Ramsey has a number of financial tools available for economic development projects. In general, tools include gap financing loans, SBA loans/loan guarantees and project based local

More information

An Introduction to the SBA 7(a) and 504 Loan Programs

An Introduction to the SBA 7(a) and 504 Loan Programs An Introduction to the SBA 7(a) and 504 Loan Programs Edward W. Ahart, Esq. Thomas L. Hofstetter, Esq. 220 Park Avenue Florham Park, NJ 07932 (973) 539-1000 Partner at Schenck Price Smith & King, LLC in

More information

TOWN of BRATTLEBORO, VERMONT SMALL BUSINESS ASSISTANCE PROGRM POLICIES AND PROCEDURES

TOWN of BRATTLEBORO, VERMONT SMALL BUSINESS ASSISTANCE PROGRM POLICIES AND PROCEDURES TOWN of BRATTLEBORO, VERMONT SMALL BUSINESS ASSISTANCE PROGRM POLICIES AND PROCEDURES A. POLICIES I. Purpose: Conventional sources of funding for start-up or business expansion purposes are largely inaccessible

More information

Overview of SBA Economic Development Programs and the Impact of the Recovery Act

Overview of SBA Economic Development Programs and the Impact of the Recovery Act Overview of SBA Economic Development Programs and the Impact of the Recovery Act 1 Access to Capital SBA guarantees loans on reasonable terms through financing partners to small businesses that are unable

More information

Building Up Business Loan Program Overview

Building Up Business Loan Program Overview Building Up Business Loan Program Overview The Building Up Business Loan Program is sponsored and administered by Wheat Ridge 2020, Inc., with the goal of improving the economic vitality and appearance

More information

FREQUENTLY ASKED QUESTIONS & ANSWERS

FREQUENTLY ASKED QUESTIONS & ANSWERS Motor City Match FAQs Frequently Asked Questions FREQUENTLY ASKED QUESTIONS & ANSWERS Table of Contents 1. Motor City Match: The Basics 2. Eligibility 3. Application Details 4. Award Details 5. Selection

More information

CDA BLF LOAN APPLICATION

CDA BLF LOAN APPLICATION CDA BLF LOAN APPLICATION Name of of Business (Legal Name): Address: City, State, Zip: Business Phone // Fax: Federal Tax ID#: Principals Principal 1 Principal 2 Name: Address: City, State, Zip: Phone:

More information

CHEROKEE COUNTY. Entrepreneurship (E-) Community Loan Application

CHEROKEE COUNTY. Entrepreneurship (E-) Community Loan Application CHEROKEE COUNTY Entrepreneurship (E-) Community Loan Application January 2015 Cherokee County E-Community Program A partnership project of Cherokee County Economic Development Corporation 104 S. Kansas

More information

PEF closes funding gaps growth businesses commonly face as they move from start-up to commercialization and fast growth.

PEF closes funding gaps growth businesses commonly face as they move from start-up to commercialization and fast growth. PITTSBURGH ENTREPRENEUR FUND Program Guidelines I. Statement of Purpose The Pittsburgh Entrepreneur Fund (PEF) will provide capital for new and growing businesses, including emerging technology-based firms,

More information

MEGA applications are awarded at the discretion of the CEO of the Michigan Economic Development Corporation (MEDC) and the MEGA board.

MEGA applications are awarded at the discretion of the CEO of the Michigan Economic Development Corporation (MEDC) and the MEGA board. Tax Incentives Lakeshore Economic Development Tools: The following is a list of tools that our staff has extensive knowldege in working with. Not all programs are appropriate for all situations. Our Staff

More information

Capital Improvement Grant Program

Capital Improvement Grant Program Pompano Beach Community Redevelopment Agency East District Capital Improvement Grant Program I. INTRODUCTION The East District of the Community Redevelopment Agency (CRA) of Pompano Beach, Florida was

More information

GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE

GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE GLENVILLE LOCAL DEVELOPMENT CORPORATION BUSINESS ASSISTANCE LOAN PROGRAM GUIDELINES FOR DIRECT FINANCIAL ASSISTANCE Prepared by: Shelter Planning & Development, Inc. 94 Glenwood Avenue Queensbury, NY 12804

More information

ADMINISTRATION PLAN for the Franklin County Revolving Loan Fund

ADMINISTRATION PLAN for the Franklin County Revolving Loan Fund ADMINISTRATION PLAN for the Franklin County Revolving Loan Fund I. PROGRAM ELEMENTS OF THE PLAN A. GOALS AND OBJECTIVES The primary purpose of the Franklin County Revolving Loan Fund, hereafter known as

More information

TABLE OF CONTENTS Business Environmental Clean Up Revolving Loan Fund Program

TABLE OF CONTENTS Business Environmental Clean Up Revolving Loan Fund Program Department of Economic Development Sec. 32-23z page 1 (9-97) TABLE OF CONTENTS Business Environmental Clean Up Revolving Loan Fund Program Definitions... 32-23z-1 Application requirements... 32-23z-2 Procedures

More information

CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION

CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION CITY OF REDWOOD FALLS PORT AUTHORITY REVOLVING LOAN FUND (RLF) APPLICATION October, 1999 Revolving Loan Fund Guidelines City of Redwood Falls The purpose of the Revolving Loan Fund (RLF) is to provide

More information

City of Bloomington, Minnesota Conduit Debt Policy

City of Bloomington, Minnesota Conduit Debt Policy City of Bloomington, Minnesota Conduit Debt Policy City of Bloomington, MN Conduit Debt Policy DEBT Conduit Debt Policy General The City of Bloomington is granted the power to issue conduit revenue bonds

More information

LOAN. Program Guide SMALL BUSINESS. ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev

LOAN. Program Guide SMALL BUSINESS. ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev SMALL BUSINESS LOAN Program Guide Funded by City of Elk Grove with Community Development Block Grant (CDBG) Funds ECONOMIC DEVELOPMENT Phone: 916.478.3690 Fax: 916.691.3168 elkgrovecity.org/econdev Elk

More information

CITY OF TOMAH COMMUNITY DEVELOPMENT BLOCK GRANT BUSINESS REVOLVING LOAN FUND ADMINISTRATIVE PLAN

CITY OF TOMAH COMMUNITY DEVELOPMENT BLOCK GRANT BUSINESS REVOLVING LOAN FUND ADMINISTRATIVE PLAN CITY OF TOMAH COMMUNITY DEVELOPMENT BLOCK GRANT BUSINESS REVOLVING LOAN FUND ADMINISTRATIVE PLAN Sponsored by The City of Tomah 819 Superior Av, Tomah, Wisconsin 54660 608-374-7455 & Wisconsin Department

More information

Wright County Enterprise Loan Fund Policies and Procedures

Wright County Enterprise Loan Fund Policies and Procedures Wright County Enterprise Loan Fund Policies and Procedures Established 1993 Revised December 1998 Revised December 2002 Revised in 2004 & approved by commissioners January 2005 1 I. OVERVIEW The purpose

More information

Rural Business Enterprise Loan Program (RBE)

Rural Business Enterprise Loan Program (RBE) Courthouse PO Box 607 Carlton, MN 55718 Rural Business Enterprise Loan Program (RBE) Mailing Address: Carlton County Economic Development Office PO Box 607 Carlton, MN 55718 (218) 384-9597 or (218)384-9564

More information

ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS

ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS 7605B/7601 ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS Revised October 1999 University of Wisconsin System This publication has been developed by the Wisconsin SBDC in partnership with the U.

More information

APPENDIX 13-1 ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE

APPENDIX 13-1 ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE APPENDIX 13-1 ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE (See Part 2 in Chapter 13 for Additional Programs) Wisconsin Department of Commerce Programs Industrial Revenue Bond (IRB) Program Overview

More information

PENNSYLVANIA CREDIT ENHANCEMENT/FINANCING PROGRAMS SMALL BUSINESS AND ECONOMIC DEVELOPMENT RATES AND TERMS

PENNSYLVANIA CREDIT ENHANCEMENT/FINANCING PROGRAMS SMALL BUSINESS AND ECONOMIC DEVELOPMENT RATES AND TERMS CREDIT ENHANCEMENT/FINANCING S SMALL BUSINESS AND LENDING LIMITS ROLE FOR BANKS CONTACT Community and Economic Development Loan Export Finance (EFP) Provides low-interest loans to existing and start-up

More information

Business Loan Application

Business Loan Application Business Loan Application For LDC Staff Use Application received on: by Loan Program (s): 7/2015 BUSINESS INFORMATION Business Name: (Proposed or Existing) Loan Amount: $ Business Address: City County

More information

Village of Paw Paw Policy and Plan For Revolving Loan Fund

Village of Paw Paw Policy and Plan For Revolving Loan Fund Village of Paw Paw Policy and Plan For Revolving Loan Fund The Finance Administrator shall deposit such monies available in separate fund, hereby created, entitled ARevolving Loan Fund@ hereinafter ARLF@.

More information

KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM

KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM KALAMAZOO DOWNTOWN DEVELOPMENT AUTHORITY BUILDING REHABILITATION PROGRAM PURPOSE As a fundamental goal of the Downtown Development Plan and Tax Increment Financing Plan (Plan), the Kalamazoo Downtown Development

More information

Fund for Economic Development. Program Criteria. K:\WORD\FORMS\Loan Application\CRITERIA02.DOC

Fund for Economic Development. Program Criteria. K:\WORD\FORMS\Loan Application\CRITERIA02.DOC Fund for Economic Development Program Criteria K:\WORD\FORMS\Loan Application\CRITERIA02.DOC VINELAND s URBAN ENTERPRISE ZONE LOAN PROGRAMS I. Introduction The Vineland Urban Enterprise Zone ( UEZ ) was

More information

Rural Entrepreneur Assistance (REA)

Rural Entrepreneur Assistance (REA) Rural Entrepreneur Assistance (REA) Eligibility Criteria A. APPLICANT 1. Must be aged 18 or over, eligible to work in Canada, and a Manitoba resident. 2. Must develop and submit a sound business plan which

More information

ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE IN WASHINGTON COUNTY

ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE IN WASHINGTON COUNTY Appendix O ECONOMIC DEVELOPMENT PROGRAMS AND GRANTS AVAILABLE IN WASHINGTON COUNTY (See Part 2 in Chapter XIII for Additional Programs) Wisconsin Department of Commerce Programs Industrial Revenue Bond

More information

Sec. 32-9q page 1 (9-97)

Sec. 32-9q page 1 (9-97) Sec. 32-9q page 1 (9-97) TABLE OF CONTENTS Implementation of Employment Incentive Loan Program and Economic Development Loan Program under Section 32-9q of the General Statutes Definitions.... 32-9q-1

More information

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Business Financing An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Even in these challenging economic times, businesses still have a need to grow and to obtain

More information

Southwest Initiative Foundation LOAN PROGRAMS APPLICATION

Southwest Initiative Foundation LOAN PROGRAMS APPLICATION Southwest Initiative Foundation LOAN PROGRAMS APPLICATION I. Basic Information: Business Name Address City Zip Contact Person Telephone # E-mail Address Website Social Security # -or- Fed ID # Does your

More information

Augusta Business & Industry Uniform Loan Application

Augusta Business & Industry Uniform Loan Application Augusta Kansas Augusta Business & Industry Uniform Loan Application VISION AUGUSTA Economic Development Vision Goal: To establish a superior business climate by creating strategies which encourage entrepreneurship,

More information

How To Apply For A Small Business Loan Guarantee Program

How To Apply For A Small Business Loan Guarantee Program VIRGINIA SMALL BUSINESS FINANCING AUTHORITY LOAN GUARANTY PROGRAM Application Instructions GENERAL INFORMATION: The Virginia Small Business Financing Authority's (VSBFA) Loan Guaranty Program is designed

More information

BUSINESS OWNER PROGRAM GUIDELINES

BUSINESS OWNER PROGRAM GUIDELINES BUSINESS OWNER PROGRAM GUIDELINES Table of Contents 1. Executive Summary 2. How the Business Owner Track Works 3. Award Details 4. Eligibility Criteria 5. Application Process 6. Selection Process 7. Match

More information

REGULATION NO. 30. Loans for Rural Economic Development

REGULATION NO. 30. Loans for Rural Economic Development EASTERN ILLINI ELECTRIC COOPERATIVE REGULATION NO. 30 SUBJECT: Loans for Rural Economic Development OBJECTIVE: It is the objective of Eastern Illini Electric Cooperative (Cooperative) to provide an additional

More information

Business in Our Sites

Business in Our Sites Business in Our Sites Program Guidelines April 2015 Commonwealth of Pennsylvania Tom Wolf, Governor Department of Community & Economic Development Table of Contents Section I Statement of Purpose...............................................1

More information

Washtenaw County Economic Development Incentives & Programs

Washtenaw County Economic Development Incentives & Programs Washtenaw County Economic Incentives & Programs Commercial Rehabilitation Tax Exemption (PA 210) Tax Abatements Property tax abatement for a period of 1 to 10 years for owners of certain rehabilitated

More information

California Investment Guide

California Investment Guide Industrial Development Bonds California Investment Guide Financial Assistance IDB financing may be the most competitive financing option available for the acquisition of manufacturing facilities and equipment.

More information

BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12)

BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12) BUSINESS LOAN PROGRAM GUIDELINES For CDBG California Community Enterprise Fund and Micro-enterprise Revolving Loan Fund (Adopted 6-19-12) 1.0 INTRODUCTION The City of Oroville s Community Development Block

More information

ECONOMIC DEVELOPMENT EQUIPMENT REVOLVING LOAN FUND

ECONOMIC DEVELOPMENT EQUIPMENT REVOLVING LOAN FUND ECONOMIC DEVELOPMENT EQUIPMENT REVOLVING LOAN FUND APPLICATION Return Application To: Hutchinson Economic Development Authority 111 Hassan Street SE Hutchinson MN 55350 Email: edadirector@ci.hutchinson.mn.us

More information

advice backed by our knowledge and experience Delta Community Credit Union Business Services distinguished by

advice backed by our knowledge and experience Delta Community Credit Union Business Services distinguished by Delta Community Credit Union is a financial institution with over $3.3 billion in assets. Delta Community Credit Union Business Services distinguished by We are a cooperative, owned and operated by our

More information

New Bedford Economic Development Council

New Bedford Economic Development Council New Bedford Economic Development Council Open for Business! Loan Application - Overview - Loan Application Checklist - Credit Authorization - Loan Application - Resolution of the Board of Directors - Appendix:

More information

GREEN BUSINESS LOAN PROGRAM Application & Information

GREEN BUSINESS LOAN PROGRAM Application & Information East Providence Special Waterfront Development District Small Business Administration GREEN BUSINESS LOAN PROGRAM Application & Information WATERFRONT DISTRICT/SBA GREEN LOAN PROGRAM Waterfront District

More information

Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates

Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates Wendy J. Jeffers Sr. Lending Officer: SBA Programs wjeffers@sbacsav.com Mobile: 912.398.3090 or 888.287.2137 In full operation since September

More information

BUSINESS OWNER PROGRAM GUIDELINES

BUSINESS OWNER PROGRAM GUIDELINES BUSINESS OWNER PROGRAM GUIDELINES Table of Contents 1. Executive Summary 2. How the Business Owner Track Works 3. Award Details 4. Eligibility Criteria 5. Application Process 6. Selection Process 7. Match

More information

How to Evaluate the New Japan Federal Loan Programs

How to Evaluate the New Japan Federal Loan Programs VERMONT ECONOMIC DEVELOPMENT AUTHORITY MORTGAGE INSURANCE PROGRAM SUBCHAPTER 2 MORTGAGE INSURANCE PROGRAM SUBCHAPTER 2 7/31/15 SUBCHAPTER 2 GUIDELINES Under this program, the Authority aids eligible and

More information

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDLP) VILLAGE OF MENOMONEE FALLS, WISCONSIN PARTICIPATING PARTNERS Participating

More information

THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA

THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA A Program Financed Under the U.S. Department of Housing & Urban Development Section 108 Loan Program in Association with the U.S Small

More information

Historic Preservation in Housing and Community Development. Linking Historic Preservation to Community Development Block Grant Objectives

Historic Preservation in Housing and Community Development. Linking Historic Preservation to Community Development Block Grant Objectives U.S. Department of Housing and Urban Development Office of Community Planning and Development Office of Environment and Energy Historic Preservation in Housing and Community Development Linking Historic

More information

1. General Information

1. General Information L O A N A P P L I C A T I O N P a g e 1 1. General Information Borrower Entity Name: City: State: Zip: Borrower Entity Type Corporation S-Corporation Partnership Proprietorship LLC or LLP Nonprofit Organization

More information

EOF. Economic Opportunities Fund

EOF. Economic Opportunities Fund EOF Economic Opportunities Fund a subsidiary of Women s Opportunities Resource Center To Whom It May Concern: Thank you for requesting a application. Please complete, sign and return the application, and

More information

New York and Warren County Incentives & Financing Programs

New York and Warren County Incentives & Financing Programs New York and Warren County Incentives & Financing Programs Warren County and New York State offer business incentives to encourage investment that drives growth and employment opportunities. Most government

More information

ECONOMIC DEVELOPMENT INVESTMENT POLICY May 2008

ECONOMIC DEVELOPMENT INVESTMENT POLICY May 2008 ECONOMIC DEVELOPMENT INVESTMENT POLICY May 2008 Cedar Rapids, a vibrant urban hometown a beacon for people and businesses invested in building a greater community for the next generation. 1.0 Background

More information

Revolving Loan Fund Program Manual

Revolving Loan Fund Program Manual Hermitage Community Economic Development Commission Revolving Loan Fund Program Manual City of Hermitage Office of Community & Economic Development 800 North Hermitage Road Hermitage, Pennsylvania 16148

More information

A Guide To Industrial Development Revenue Bond Financing In

A Guide To Industrial Development Revenue Bond Financing In A Guide To Industrial Development Revenue Bond Financing In Miami-Dade County Miami-Dade County Industrial Development Authority Brickell Bayview Centre 80 SW 8 th Street, Suite 2801 Miami, Florida 33130

More information

KENDALL-GRUNDY COMMUNITY ACTION MICRO-LOAN PRELIMINARY APPLICATION

KENDALL-GRUNDY COMMUNITY ACTION MICRO-LOAN PRELIMINARY APPLICATION KENDALL-GRUNDY COMMUNITY ACTION MICRO-LOAN PRELIMINARY APPLICATION The Kendall-Grundy Department of Community Action has established the CSBG Micro-Loan Program to assist in financing micro-businesses

More information

Financing Business Expansion through Tax-Exempt Private Activity Bonds

Financing Business Expansion through Tax-Exempt Private Activity Bonds January 2011 Practice Group(s): Public Finance Seattle Scott A. McJannet Robert D. Starin David O. Thompson Cynthia M. Weed Spokane /Coeur d Alene Kevin R. Connelly Laura D. McAloon Brian M. Werst Financing

More information

DISCLOSURE STATEMENT HCDC

DISCLOSURE STATEMENT HCDC DISCLOSURE STATEMENT HCDC (Hamilton County Development Co., Inc.; dba: Horizon Certified Development Company) U.S. Small Business Administration 504 Loan Program The SBA 504 Loan Program offers eligible

More information

Community Development Authority (CDA)

Community Development Authority (CDA) BUSINESS LOAN PROGRAM FACT SHEET 1. Who is eligible? Any industrial, commercial or mixed use development in Peabody is eligible. 2. What kind of financing is available? The Business Loan Program will finance

More information