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FORT WAYNE AREA BANK LOAN FUND

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.

  • There is a $50 application fee.

  • Loans can be used for any sound business purpose, like

    • Starting a business.

    • Expanding a business.

    • Construction, expansion and renovation of a building.

    • Machinery and equipment purchase.

    • Working Capital.

  • The loan term is based on the economic life of the asset financed.

  • The minimum loan amount is $5,000.

  • The maximum loan amount is $50,000.

  • The interest rate on loans through this program is three points over prime at the time of closing.

  • Rates will be adjusted every five years.

  • You will need collateral to secure the loan.

  • Your own personal guarantee is always required.

  • 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