Areas Served: City of Dayton
ELIGIBLE LOAN USES – Real estate acquisition – New construction – Renovation of existing buildings – New and/or used machinery and equipment acquisition – Growth Capital THE BENEFITS – Low down payment – Below-market interest rate – Gap financing – Available for businesses located in the City of Dayton – 60% bank or other private lender – 30% CityWide SBA direct loan – 10% owner’s equity injection MAXIMUM LOAN AMOUNT $200,000 TERM – Fixed asset: Useful life of asset up to 10 years – Working capital: Up to 3 years RATE Rates are determined by the assessed risk FEES – $250 application fee – 1.5% of loan amount (1% paid upon acceptance of commitment) – Out-of-pocket closing costs-i.e. legal, title, recording, etc.
Contact InformationCitywide Development Corporation
Address: 8 N. Main St.
City: Dayton
State: Ohio
Website:
http://citywidedev.com/projects/economic-development/
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