Areas Served: Androscoggin, Franklin or Oxford Counties
AVCOG provides business financing assistance for start-ups, expansions and modernizations throughout the Maine tri-county area.
Funding for the agency’s lending, grant and technical assistance programs are secured through a mix of state and federal loan and grant programs and strategic partnerships.
In addition to our direct loan programs, AVCOG also provides assistance to businesses in accessing other local and state sources of financing.
In order to be eligible for the business loan program businesses must must be located in Androscoggin, Franklin or Oxford Counties.
Loan Amount – $35,000 to $150,000 – Average loan is approximately $50,000 Interest Rate Fixed Rate, 8%* Loan Term – Usually, 7 years, or less, based on the business’ cash flow and useful life of the financed assets – Terms longer than 7 years may be negotiated, in certain instances – Prepayment is allowed without penalty Loan Uses Real estate acquisition, building improvements, furniture and fixtures, equipment, inventory, supplies, working capital and/or refinancing debt Security/Collateral Assets being financed and other collateral, personal assets and personal guarantees, as required Fees 2% commitment fee and closing costs*
Contact InformationAndroscoggin Valley Council of Governments
Address: 125 Manley Road
City: Auburn
State: Maine
Website:
http://www.avcog.org/index.aspx?nid=953
Leave a Reply