Now Available

The Business Starter Loan

Loan Amount:

Up to $1,000,000

Approved Loan Purposes:

Franchise Start-ups

Franchise Acquisitions

Business Acquisitions

Machinery & Equipment Purchases

LTV:

90%

Borrower Injection:

10%

Term:

10 Years

Interest Rate:

Prime + 1.50% - Prime + 2.75%

Pre-Payment Fee:

None

Balloon Payment:

None

Origination or Points:

None

Requirements:

Borrower’s Injection:

Now: 10% / 0% for additional franchise locations (was 15% - 20%)

Debt Coverage Ratio:

Now: 1.20 for one year (was 1.25 for 2 years)

Minimum Buyer Salary:

Now: Waived (was $25,000)

Eligible Businesses:

Must be Privately Held and Operated For-Profit

Borrower’s Experience:

None Required for Approved Franchises

3 Years of Related Experience for Non-Franchise

Working Capital:

Funds Provided to Cover 3 – 6 Months of Expenses