Small Business Loans
Loans of up to $300,000 are available for business startup or expansion projects, which create and /or maintain permanent employment in our district.
Loans, loan guarantees or equity investments are provided at commercial rates to businesses that meet the following criteria:
- Have a viable business plan
- Demonstrate personal commitment
- Maintain or create jobs
- Sufficient financing cannot be obtained from other sources
Investment decisions are made locally by our Board of Directors who control an investment fund valued at over $8.1 million. This fund is continually reinvested in the community.
This investment pool is a result of an agreement between FedNor and the Northeast Network of Community Futures Development Corporations (CFDCs). This pool provides financial assistance to small and medium-sized businesses in the form of repayable loans, loan guarantees, and equity investments to a maximum of $750,000. This investment tool enables CFDC’s in the Northeast to assist Small and medium sized enterprises that offer exceptional opportunities for business growth and job creation and that are unable to access funds from conventional lenders. We recognize that these enterprises drive the economy and, quite often, a well-timed financial boost is all they need to flourish.
The overall objective is to enable a CFDC to invest in a business at a higher level, while sharing the risk and returns with other CFDCs.
Please contact us for additional program details.