What are the terms and conditions of the Direct Loan Program?
Loan terms are structured to match the use of proceeds. Standard terms are 5 – 7 years with a maximum of 10 years for working capital and machinery/equipment and a maximum of 20 years for real estate.
Interest rates are variable, based on the Wall Street Journal (WSJ) Prime Rate and determined based on a risk profile assessment. Maximum interest rate is WSJ Prime + 6%.