Areas Served: City of Nashua
The Revolving Loan Fund (RLF) is intended for permanent working capital and fixed asset financing for start-up and existing businesses in the Nashua, New Hampshire area.
Eligibility Requirements To be eligible the business must be able to:n¢ Meet the SBA definition of a small businessn¢ Be able to produce no less than one new job for each $20,000 of RLF investment.
¢ Demonstrate the capacity to repay debt and produce jobs Allowed Uses of Fundsn¢ Owner occupied commercial real estate acquisition.
¢ Acquisition of Machinery and Equipmentn¢ Permanent Working Capital Prohibited Uses of Fundsn¢ Loan Guaranteesn¢ Acquisition of Non-Owner Occupied Commercial R/En¢ Payment of back taxesn¢ Refinance of existing debt, except to term out LOC RLF Participation and Funding Limits RLF funds are not intended to substitute for conventional private debt and equity.
Therefore, in general, RLF funds should not exceed more than 50% of the eligible project costs, but in certain instances, RLF funds may be the sole source of funding.
The maximum loan is $100,000 ($50,000 for start-ups and CDBG).
Interest Rate Existing Businesses:n¢ Prime to Prime +1%n¢ Start-Up Businesses: Prime + 1 – 2%n¢ CBDG Funds: Prime + 1 – 2% Length of Termn¢ Commercial Real Estate 10 years (existing only)n¢ Machinery and Equipment 7 yearsn¢ Permanent Working Capital 5 years
Contact InformationNashua New Hampshire Business Loan
Address: 229 Main Street
City: Nashua
State: New Hampshire
Website:
https://www.nashuanh.gov/1121/Loan-Funds
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