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Business Finance
The Silver
Valley Economic Development Corporation can assist you in expanding or
relocating your business. We can also help you to start that new business.
We have attractive financing packages ranging from $1500 microloans to $10
million infusions through revenue bonding. PAC, the U.S.
Economic Development Administration and U.S.D.A. Rural Development work
closely to build multiple-source financing for desirable projects. If you
have an economically viable business, we have access to the capital you
need to get started here. We have local Real Estate Agents familiar with
undeveloped property or existing buildings which may fit your needs and
can provide you with local contractors to assist you in your building
expansion needs.
Small Business Micro-Loan Program
The
Micro-Loan Program range between $1,000 to $25,000. Micro-loans are
typically for businesses which have been operating for at least one
year. However, start-up businesses will be considered with the
submission of an adequate business plan. Proceeds can be used for
equipment purchases or repair, inventory purchases, and working
capital. This program can not be used to refinance pre-existing
debt.
SBA 504 Loan Program
The SBA 504 Loan
Program provides long-term fixed rate financing to established and
start-up businesses at below market rates. The 504 program, in
partnership with local lending institutions, can provide up to 90%
financing for eligible project costs. The SBA 504 loan proceeds can
be used for land and building purchases, construction, long-term
leasehold improvements and equipment purchases. Working capital,
debt refinancing, and real estate speculation* are not allowed under
this program. *(However, interim financing on real estate is not
considered debt refinancing and is eligible under the 504
program).
Revolving Loan Funds
The Revolving
Loan Fund (RLF) Program provides for up to 50% of the financing
requirements for a term of up to 7 years at a fixed, below-market
interest rate. The purpose of this RLF is to assist private business
and industry to finance capital improvements and
expansion.
Intermediary Relending Program
The Intermediary
Relending Program (IRP) provides for up to 50% of the financing
requirements for a term of up to 5-15 years at a fixed, market
interest rate (prime). The purpose of the IRP is to assist private
business and industry to finance capital improvements and expansion.
Those firms that utilize the area's natural resources and process
them to final stages are also
targets.
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