Governor's Conference on Economic Development
Looking for a flexible loan program to help finance your business?
The Loan Participation Program is intended to supplement existing credit, not supplant it. Thus, loans will be administered and serviced through local lenders. Participation loans are eligible costs; including land needed for the project; buildings and improvements; and machinery/equipment.
The program participates with banks and borrowers to assist financing capital expenses associated with value-added production, or processing projects. The program can lend up to 80% of the total loan up to $500,000.
Facility, equipment in facility and land needed for the project
4.5% fixed (3.5% fixed for small/beginning farmers); Up to 10 year term based on collateral
