Areas Served: All United States
The LGPP a loan program that enables eligible minority-owned firms to obtain financing when funds are not available through conventional channels on reasonable terms.
The following types of loans and credit facilities are accessible through the LGPP: – Lines of Credit – Contract Financing – Intermediate Term Loans – Working Capital Loans – Equipment Financing Borrower Eligibility The BCF loan program is limited to ethnic/racial minority business enterprises that have been certified by a National Minority Supplier Development Council (NMSDC) affiliated Regional Council and have a supplier/vendor relationship with a corporate member of the NMSDC or an affiliate Regional Council of the NMSDC.
Loan Amounts The total amount of the LGPP loan facility is determined by the participating lender; however the BCF’s maximum exposure may not exceed $1,125,000 in a participation loan, or on a guaranteed loan.
In each case, the participating lender must retain a minimum of 25% of the amount of loan facility.
Loan Terms and Conditions The length of time for repayment depends on the type of loan, use of proceeds, and the ability of the business to repay; however the term of any given loan may not exceed seven(7) years.
Single borrowers may remain in the program for up to seven (7) years from the date of the initial loan.
Maximum interest rates may not exceed 3% over prime.
Contact InformationBusiness Consortium Fund, Inc.
Address: 305 Seventh Avenue, 20th Floor
City: New York
State: New York
Website:
http://www.bcfcapital.com/loan.htm
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