MELF Fund

***PROGRAM IS CURRENTLY CAPPED AT $400,000*** Eligible Enterprise Types Manufacturing Enterprises Industrial Enterprises Agricultural Processors Healthcare Enterprises Funding Details: Eligible M&E Costs M&E costs may include but are not limited to the refurbishment of existing equipment and the acquisition, delivery and installation of new equipment. Loan Amount 50% of the eligible total project costs up...

PROGRAM IS CURRENTLY CAPPED AT $400,000

Eligible Enterprise Types

Manufacturing Enterprises

Industrial Enterprises

Agricultural Processors

Healthcare Enterprises

Funding Details:

Eligible M&E Costs	M&E costs may include but are not limited to the refurbishment of existing equipment and the acquisition, delivery and installation of new equipment.
Loan Amount	50% of the eligible total project costs up to $5,000,000.
Eligible Match	A loan made from the MELF Fund must be matched by other eligible M&E costs.
Term	Up to 10-yrs. (straight amortization) and the term cannot exceed the useful life of the equipment being financed.
Collateral	A loan made from the MELF Fund must be secured by no less than a second lien on the project equipment.
Jobs	$35,000 per job retained / $50,000 per job created.
*Additional Info	The MELF Fund is utilized for M&E projects where the loan amount is greater than $400,000 or the eligible operating entity has more than 100 full-time employees worldwide.