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SBA ILP (Intermediary Lending Program) - Helping small businesses start and expand
Why choose an SBA ILP: These fixed-rate, 5-15 year term loans up to $200,000 are intended for small businesses who may not be able to obtain conventional funding, or who need gap financing for a conventional loan. ILP loans may be used for working capital, equipment and inventory or real estate.
Loan amounts: Up to $200,000
Down payment: Minimum 10%
- Working capital, equipment and inventory and real estate
- Special emphasis on businesses in Fargo, Grand Forks, Bismarck and Minot
- Special emphasis on businesses run by women entrepreneurs
Collateral and security: All loans shall be secured by the available assets of the borrower and its principals to the extent necessary to protect the interests of the lender as a secondary source of repayment. Lien on assets financed plus additional collateral as necessary.
Terms: 5-15 years
Rate: Fixed rate at the time the application is reviewed, depending on risk and length.
Contact us to discuss project feasibility and details of this and other loan programs.