CMPDD fosters economic development through a variety of business financing programs. These programs are designed to help businesses grow and create jobs. They are intended to work with, not replace, existing commercial financing and usually are combined with commercial sources to finance a complete project.
CMPDD works directly with the business client to package a financing plan that meets the needs and credit criteria of the business. CMPDD can draw from one or more of the following financing programs:
|Loan Programs||Targeted Businesses||Maximum Loan Amount||Terms Interest Rate||Use||Portion of Project Financed|
|US Small Business Adm. 504||Small business||$5,000,000 – $5,500,000||10 or 20 Years fixed||Fixed Assets||30% – 40%|
|Econ. Dev. Adm. Revolving Loan||Small business||$200,000||Up to 15 years fixed||Fixed Assets, Inventory, Working Capital||33%|
|Minority owned (including women)||$250,000||Up to 15 years fixed||Fixed Assets, Inventory, Working Capital||50%|
|Minority owned (including women)||$35,000||Up to 5 years
|Fixed Assets, Inventory, Working Capital||100%|
|MS Small Business Assistance||Small business||$250,000||Up to 15 years fixed||Fixed Assets, Inventory, Working Capital||50%|
|Rural Business Enterprise Loan Program (RBEG)||Rural Business Enterprise||$499,000||Up to 15 years fixed||Fixed Assets, Inventory, Working Capital||100%|
|Loan Guarantee Programs||Targeted Businesses||Maximum Loan Amount||Terms Interest Rate||Use||Portion of Project Financed|
|SBA Export Working Capital||Small Exporting||$833,333||1 year Market Rate||Pre and post export Working Capital||Up to 90% Guarantee|
NOTE: Interest Rates are subject to change without notice.
Each program has specific eligibility criteria and conditions. The consolidated loan application is intended to gather the information needed to assess the credit needs of a business. CMPDD will use this information to help the business access the most appropriate financing program(s).
To Download a Consolidated Loan Application Form, click here. (you can save the form to your computer, use Adobe Acrobat to fill in the application and print a copy)
For additional information, please contact Dwayne Perkins at (601) 981-1511.