Metropolitan Business Loan Fund

Business loans are available for qualified businesses who are located in low-moderate-income census tracts in LCC’s target markets.  Funds may be used only for business purposes. Please note that some criteria may vary depending on the project and are subject to change.

Criteria

• Loan Range Amount: $5,000 – $100,000
• Maximum Term: 2 years
• Interest Rate Range: 4-8%
• Repayment: Principle and interest payments.
• Points: Up to 2 points
• Application Fee: Non-refundable $100
• Collateral: Loan funds must be fully collateralized by an asset acceptable to LCC.
• Other: Applicant must accept technical assistance from LCC or its affiliates when applicable.

Eligibility

• Property Restrictions: Business location should be located in a low-moderate income census tract.
• Borrower Restrictions: New and existing business owners may apply, however, priority will be given to businesses located in historic communities and main streets.