This program is designed for businesses like yours, offering a unique opportunity to secure financing that can significantly boost your operations. You can receive up to $1,000,000 in financing, with an additional $150,000 available for software or day-to-day operating costs. This flexibility allows you to allocate funds where they are most needed, whether it's for operating expenses, restorations, new equipment, or software.

What sets this financing apart is that it is backed by the government, providing you with a level of security and trust that other loans may not offer. You also have the freedom to choose your repayment terms, with up to 15 years to pay it back. This means you can manage your cash flow more effectively and invest in growth without immediate financial pressure.

Qualifying for this program is straightforward, making it an accessible option for your business. By being approved, you gain not only financial support but also the confidence to expand and innovate, knowing you have a reliable partner in your corner.

Type of Financing:

• Loan: This program offers a loan to eligible businesses.

Repayment Terms and Interest Rates:

• Repayment Term: Up to 10 years.
• Interest Rate: Fixed interest rate of 5% per annum.

Eligible Expenses:

• Purchase of new or used equipment.
• Leasehold improvements.
• Intangible assets such as patents and trademarks.
• Working capital to support day-to-day operations.

Use of Funds:

• Funds cannot be used for:
  • Refinancing existing debts.
  • Real estate purchases.
  • Personal expenses.

Fees:

• Application Fee: $200, non-refundable.
• Processing Fee: 1% of the loan amount, deducted from the disbursement.
• Late Payment Fee: 2% of the overdue amount per month.

This program offers your business a fantastic opportunity to grow and succeed. You can receive up to $1,000,000 to help your business thrive.

Here's how you can use the funds:

• Up to $500,000 for purchasing equipment or improving your rented space. This includes items like commercial kitchen appliances, manufacturing machinery, computers, and IT infrastructure, or renovating a retail space.
• Up to $150,000 for costs like software or working capital to keep your business running smoothly.

The federal government guarantees 85% of the loan, providing a significant safety net for your business.

Flexible repayment options are available. You can choose between a variable interest rate, a fixed rate, or a combination of both. Additionally, you can apply expenses from the last 365 days that meet the program guidelines to this loan.

You have up to 15 years to repay the loan, regardless of how you use the funds. This flexibility ensures you can manage your finances effectively while growing your business.