The Cumberland Small Business Fund is (CSBF) is a CAEDC administered loan program that offers low-cost financing to businesses located in Cumberland County.
ELIGIBLE PROJECTS
- Land and building acquisition
- Building construction, renovation and expansion
- Machinery and equipment purchase
- Working Capital
ELIGIBLE BORROWERS
Small businesses with less than 50 employees.
LOAN LIMITS
Minimum loan amount is $50,000. Maximum loan amount is $100,000.
TERM
- Based on use of funds
- Maximum 15 year term
RATE
Determined based on credit risk.
EQUITY REQUIREMENT
Assessed based upon project loan request.
JOB REQUIREMENT
Within three years of loan disbursement, create one full-time job for a Cumberland County resident who meets the low to moderate income guidelines as defined by HUD.