Areas Served: Lewis County
Purpose The Lending Network is a community based corporation established to lend money to qualifying businesses in Lewis county, Washington and to help diversify employment and create or retain family wage jobs in the local area.
Loans are made to those who do not otherwise have the ability to fully finance their project, or that need more flexible terms to make their project financially feasible.
Priorities .
Manufacturers, distributors, or wholesalers .
Businesses that will create or retain family wage jobs in the area .
Businesses located in smaller communities .
Business that export products or services Program Highlights Term loans are available to finance: .
Land and building acquisition or construction .
Machinery and equipment .
Working capital and inventory .
Infrastructure development .
Professional expenses .
Loan fees and closing costs Loan Amounts $25,000 to $250,000 The Lending Network can provide up to 75% of total project costs; however, it generally targets between 20% and 50% of total financing.
Terms .
Up to 20 years, depending on what is being financed.
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Interest rates: fixed up to market rate.
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Negotiated based on credit strength of applicant Fees Two percent loan fee plus related closing costs.
Collateral Adequate collateral is required.
Business and personal assets will be secured as applicable.
Eligible Applicants Businesses that have: .
Eligible financing needs .
A sound business plan .
Experience and management capacity .
The willingness and ability to invest in and provide collateral for a project.
Contact InformationLewis County EDC
Address: 1611 North National Ave
City: Chehalis
State: Washington
Website:
http://www.lewisedc.com/financial_assistance.html
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