Community Development Corporation of Northeast Indiana

(Back)

       Fort Wayne Opportunity Loan Fund     
Click here for printer friendly version

The Fort Wayne Opportunity Fund provides financing for businesses located in the City of Fort Wayne.  This program creates better job opportunities for persons of low and moderate income by helping  businesses in  Fort Wayne to start up or to expand. 

You should know that:

• The CDC will not refinance existing debt.

• There is a $50 non-refundable application fee.

• The business needs to be located within the city limits of Fort Wayne, Indiana.

• New jobs must be created and must be available to persons of low and moderate income.

• The maximum amount loaned by the CDC is $100,000.

• In most cases 50% of the project amount must be financed by a bank or the borrower.

• The minimum loan amount is $1,000.

• Up to $50,000 of the loan can be used for working capital.

• Up to $30,000 of the loan can be without a private match.

• Funds can be used to:

• Start a new business.

• Expand a business.

• Construct a building, expand, or renovate.

• Purchase machinery and equipment.

• Purchase inventory.

• The term of the loan is based on the economic life of the asset financed.   Generally, this is 15 years for real estate, 5 to 7 years for machinery, and 3 to 5 years for working capital.

• The loan cannot be used to relocate a business from one labor area to another.

For more information on the
Fort Wayne Opportunity Fund Loan Program
call us at 260/427-1127 or contact us by e-mail at:
Community Development Corporation of Northeast Indiana

last updated: 10/08/2004