7. EDSR 08-11-2008 - Laserfiche WebLink

Home Browse Search

i INITIATIVE • Direct Business Loan Fund ~n ~ ~ ~T A Fills the gap in financing packages for new or expanding companies that show potei~ia`i' forlgt~diTt~~ N job creation or retention. Targeted industries include manufacturing, technology based business sectors, and value-added agriculture. ^ Loan amounts of $50,000 to $250,000 ^ Minimum 50% bank or lending institution participation ^ Subordinate collateral position ^ Eligible uses: real estate, equipment, and working capital • Technology Capital Fund Supports emerging technology ventures and helps established businesses integrate proven productivity applications into operations. ^ Loan amounts of $50,000 to $500,000 ^ Primary lender participation if feasible but not required ^ Flexible terms and collateral requirements ^ Established businesses, pre-revenue businesses & start-ups ^ Eligible uses: Fixed assets, working capital, commercialization of new product launch, and productivity enhancing software systems. • Green Business Loan Fund Supports entrepreneurial ventures by financing new or expanding businesses that deliver a product/service that protects or preserves the environment, reduces or recycles an existing waste stream, or reduces energy demands/costs. ^ Loan amounts of $50,000 to $250,000 ^ Minimum 50% bank or lending institution participation ^ Subordinate collateral position ^ Eligible uses: real estate, equipment, and working capital • Seed Capital Fund Supports emerging entrepreneurial ventures by financing new product concepts, development, and market research. ^ Loans, convertible debentures, or equity investments up to $50,000 ^ Early stage start-up capital ^ Emerging technology ventures or projects with high growth potential ^ Flexible terms based on stage of venture • Microenterprise Loan Guaranty Program Protects banks and lenders against default by underwriting up to $50,000 through a simple guaranty agreement. Fund was designed to increase local ownership or expansion of small business, especially among underserved populations who have traditionally been less likely to be business owners. Focus on locally owned and downtown businesses, non-traditiond4°bctit~3~ ~~ s'~~ Retail/service sector eligible )_I"~,"1.1: ,:nl.,s. MN ~~3~5 Non-traditional borrowers include women, people of color, young adults, and applicants with N'WW.If'OIIND.()li(i low net worth. ~>LloNlt: l)20.B:S2.93:)5 Fnx: 320.13a2.925F3 i ~~ I:Vilnl. ()I'!'O72'1'IIN I"1'1- 1.I~:N 1)I: H. 1'N ()V71)F:I2 nNl) I~:M 1'1.()1'1:12.