Loan Programs

June – July 2022

PURPOSE	Business start-up, expansion/renovation, real estate and equipment acquisition
PROGRAM AREA	Citywide
% PARTICIPATION	50% of total project cost
MAXIMUM LOAN	$15,000
LOAN TERMS	3-5 years, depending on collateral
INTEREST RATE	Prime plus 1 fixed
ADDITIONAL DETAILS	Collateral position on equipment or property purchased with JLDC funding. Personal Guarantee Credit Check Applicant to pay JLDC closing costs

PURPOSE	Business expansion/renovation, relocation to Jamestown, real estate and equipment acquisition
PROGRAM AREA	Citywide
% PARTICIPATION	50% of total project cost
MAXIMUM LOAN	$75,000
LOAN TERMS	5 , 7, or 10 year term
INTEREST RATE	Prime Rate plus 1 to 3 percent fixed interest (Determined by percentage of project costs covered by the applicant and/or other investors.)
ADDITIONAL DETAILS	All loans must be secured by an interest in fixed assets Covers up to 70% of total project costs At least 20% of total project costs to come from investors or traditional lending institutions At least 10% cash injection from applicant Personal guarantee Credit check Applicant to pay JLDC closing costs

PURPOSE	Business start-up, expansion/renovation, real estate and equipment acquisition
PROGRAM AREA	Citywide
LOAN TERMS	5, 7 or 10 years, depending on collateral
Tier I	Projects up to $1,000,000
% PARTICIPATION	35% Maximum
MAXIMUM LOAN	$200,000
INTEREST RATE	5% fixed
ADDITIONAL DETAILS	Collateral must be project related fixed assets Personal and/or corporate guarantees required
Tier II	Projects over $1,000,000
% PARTICIPATION	25% Maximum
MAXIMUM LOAN	$350,000
INTEREST RATE	6% fixed
ADDITIONAL DETAILS	Collateral must be project related fixed assets Personal and/or corporate guarantees required