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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.
DOWNLOAD OUR FORMS
Download our ILP Application & Application Checklist below, or better yet! Contact a loan officer in your area to jumpstart the process and have your application prefilled.