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Fort
Wayne Area Bank Loan Fund 
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Seven
Fort Wayne area banks have teamed up with the CDC, pooling their
monies to provide financing to Allen County businesses. In
most cases the loans funded under this program are those that
are considered too risky for conventional financing.
Administration of the Bank Loan Fund is through the Community
Development Corporation.
You
should know that:
-
The
CDC will not refinance existing debt.
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There
is a $50 application fee.
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Loans
can be used for any sound business purpose, like
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The
loan term is based on the economic life of the asset
financed.
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The
minimum loan amount is $5,000.
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The
maximum loan amount is $50,000.
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The
interest rate on loans through this program is three points
over prime at the time of closing.
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Rates
will be adjusted every five years.
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You
will need collateral to secure the loan.
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Your
own personal guarantee is always required.
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Your
business must be located within Allen County, Indiana, to
qualify.
For more
information on the
Fort Wayne Area Bank Loan Fund
call us at 260/427-1127 or email the
Community Development Corporation of Northeast Indiana
last updated:
10/08/2004
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Community Development Corporation of Northeast Indiana