Community Development Corporation of Northeast Indiana

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        Purchase Order Program     
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The Purchase Order Program was established by the CDC in 1990.  The program provides short-term financing to small businesses needing working capital to complete a specific project or purchase order.  The goal of the program is to help small businesses, especially new ones, to boost their sales and profits.  The program provides capital needed by small businesses in order for them to bid on and to complete certain projects which may otherwise be out of their reach.

You should know that:

• There is a nonrefundable application fee of $50.

• The borrower pays all closing costs.

• The borrower must be located in Allen County, Indiana.

• The maximum amount that the CDC will loan is $25,000.

• CDC funds can be used for:
  

  • Expenses needed to complete a specific contract or purchase order.

  • Raw material purchases, inventory, payroll expenses, or other material purchases.

• The term on a Purchase Order Loan is generally 90 days, based on the contract terms.

• The interest rate on the CDC loan is at 1.5% per month, an annual rate of 18%.

For more information on the
Purchase Order 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