Nickel Basin Federal Development Corporation Commercial Term Loans
no fixed amount
Loan
Description:
Nickel Basin FDC offers Commercial Term Loans for new and existing businesses which typically struggle to obtain financing from conventional lenders.
Comments on Funding:
Funding takes the form of a loan, with repayment terms of 5 to 18 years depending on project.
Continuous Intake
Eligibility:
Applicants must:
1. be new businesses;
2. be existing businesses;
3. be businesses that:
a) Create Jobs or Sustain Existing Ones;
b) Are located within Nickel Basin CDC’s geographical jurisdiction to qualify for funding. Please note that relocating your business after receiving funding may result in loan repayment;
c) Demonstrate Personal Investment: A minimum personal financial investment of 10% is required. This percentage may increase based on the project’s intangible costs;
d) Maintain Strong Credit History;
e) Demonstrate economic viability of the business, with the ability to repay the Nickel Basin loan, other loans, and maintain its operational commitments current;
f) Possess Capable Management;
g) Provide Appropriate Venture Security.
Application Steps:
Applicants must:
1. complete and submit the application form for financing;
2. provide supporting documents;
3. be notified with the decision.
Documentation Needed:
Applicants must submit:
1. a completed business plan;
2. personal financial statement for each borrower and/or guarantor;
3. supporting financial projections, such as a cash flow budget;
4. additional information as requested.
Other Things to Note:
About the author
Maurice
