Loan Products

Loan Products

First State CLF has three primary lending programs, the Micro Loan Fund, Business Growth Fund, and Community Development Loan Fund. First State CLF’s loan products are designed to support small business and community development projects that are often missed by mainstream financial institutions. First State CLF emphasizes cash flow analysis, considers non-traditional collateral, and offers flexibility in the loan structuring.

 

Micro Loan Fund

The Micro Loan Fund provides loans for small business start-up and expansion. Loan size ranges from $5,000 to $50,000. Micro loans can be used for most business purposes, including working capital, inventory and equipment. Micro Loan Fund borrowers are frequently start-up or early stage businesses.

 

Business Growth Fund

The Business Growth Fund provides loans for existing businesses that need more capital than a Micro Loan. Business Growth Fund borrowers have typically been in business for at least two years. Loan size ranges from $51,000 to $250,000. Most business purposes are eligible, such as, working capital, inventory, equipment, leasehold/capital improvements, and real estate acquisition.

 

Community Development Loan Fund

The Community Development Loan Fund provides loan capital to both non-profit and for-profit, community based projects, such as childcare centers, community centers, mixed use properties, and other community-based projects. The maximum loan size is $500,000.

 

SBA 504 Loan Program:

The SBA 504 Loan Program offers Long-Term, Fixed Rate financing, up to $5,000,000, to Eligible Small Businesses for Fixed Asset purchases. Loan Proceeds may be used to purchase land and building, fund leasehold improvements, or purchase major fixed assets like equipment. The Certified Development Company at First State Community Loan Fund partners with your Bank to offer this unique loan program.

For more information please fill out a Request for Counseling Form