Manufacturing technology related commercial, service, green/sustainable industry or a grocery store
Maximum City assistance is $500,000 and 33.3% of the total project cost
Use of Proceeds
Working Capital for Inventory Purchases
Applicant must provide a minimum of 10% equity
City to have a subordinate lien position on the Project Site and/or UCC lien on business assets. Other collateral may be deemed necessary.
75% of WSJ Prime Rate
Interest only payments for up to twelve (12) months and the loan will be fully amortized for up to seven (7) years for a maximum loan term of ninety-six (96) months