Application Requirement

Prior to submitting any information, applicants are asked to contact The Fund staff for a personal interview to determine project eligibility and to establish an application schedule.  A prospective borrower must be referred by a primary lender.  The Fund requires a written business plan clearly describing the business and the proposed use of the new funds.  A business plan outline and planning assistance can be provided at no charge to potential borrowers.

Application Evaluation

Financing requests are reviewed for their economic development impact, both regional and local.  This includes the creation and retention of jobs, improvement of wage and skill levels, strengthening or diversification of threatened industries, potential for adding value to indigenous products and development of emerging non-manufacturing sectors.  Requests are further analyzed for their ability to leverage funds from other sources.


Approval

The Fund Board of Directors reviews each loan proposal.  The Fund's Board encompasses a broad range of experience in finance, retail, manufacturing, law and government.  Applicants present their requests in personal appearances before the Board, and loan decisions generally are reached prior to the close of business that day.