Description: Funding for small business including: low-interest loan financing to small businesses for land acquisition and construction; machinery and equipment purchases and working capital.

Eligibility:

• Small business (100 employees or less)
• Manufacturing
• Industrial
• Agricultural companies
• Mining enterprise
• Export service enterprise
• Certain hotels, motels or restaurants

Eligible Uses:

• Land and building acquisition and construction
• Machinery and equipment purchases and upgrades
• Working capital
• Environmental compliance
• Municipal or commercial recycling

Where to Apply: MCDC office

Amounts:

Loans up to $200,000 or 40% of total eligible project costs, whichever is less

Maximum loan amount for working capital is $100,00 or 40% of total eligible projects costs, whichever is less

Terms/Conditions:

3% interest rate (10/2008)
$25,000 cost per job retained or created
Up to 15 year term, for land and building
Up to 10 year term for machinery and equipment
Up to 3-year term for working capital