Areas Served: Lewis and Clark, Broadwater, and Meagher Counties
Business must be located in the MBAC service area in the Montana counties of Lewis and Clark, Broadwater, and Meagher Counties.
Use of Proceeds: – Machinery and equipment – Inventory – Working capital – Debt consolidation – Real Estate Maximum Loan Amount: Based on project and amount available in the fund Rates Prime plus risk factors; risk factors based on credit, collateral coverage, financial position, personal investment, and management ability Rate is fixed for life of loan 2% closing fee plus all costs of filing and/or recording Terms: All loans have a second or third year balloon payment.
Amortizations are as follows: 5 to 7 years for machinery and equipment 3 to 5 years for inventory, working capital or consolidation 15 to 20 years for real estate Collateral Requirements: Collateral coverage of 1.25:1 on a discounted basis for existing assets Purchase money security on assets acquired with loan proceeds Personal guaranty Other Minimum 5% equity investment from borrower
Contact InformationMontana Business Assistance Connection
Address: 225 Cruse Avenue
City: Helena
State: Montana
Website:
http://www.mbac.biz/Loan_Programs.php
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