A fixed percentage is charged. Repayment is computed on a monthly basis

Loan terms are matched to the asset financed but not to exceed 10 years.

Maximum $30,000 Minimum $5,000

A loan applicant must: Show evidence of experience and knowledge to operate the business successfully Provide a minimum equity injection. Show that the proposed loan is secured by sufficient collateral to ensure repayment. Create or retain a minimum of one job for every $30,000 borrowed Not be delinquent to any taxing authority or agency thereof.

Light Manufacturing Service Oriented Wholesale Retail Construction

Bars Lounges Apartments Seasonal Enterprises Financial Institutions

Net worth of business may not exceed $3million Net profit after taxes must average less than $1 million during the prior two years Must not employ more than 100 people

May be a corporation Partnership Proprietorship Joint Venture Cooperative Franchise

Business must be located within the Lafayette Consolidated Government Jurisdiction

There is a non-refundable application fee of $25.00 that must be submitted with the loan application