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News and information about CAN DO for the community, investors, volunteers and board members.
Funding Details:
Eligibility | A business must demonstrate a positive direct impact on the community in which it is located, on residents of that community, or on the local and/or regional economy. |
Use of Loan Proceeds | Funding will be provided for land and/or building acquisition; construction/renovation activities; purchase of machinery and equipment which is an integral structural fixture of the business; and professional and financial fees. Funding may also be obtained for working capital by manufacturing firms. |
Financing & Interest Rate | Loan funds are available for eligible businesses at an interest rate of 0% for terms of 7 or 15 years, with a minimum loan amount of $50,000 and a maximum loan amount of $1,000,000.00. The County can potentially finance up to 50% of the eligible project costs. Monthly repayments of principal will be required for the term of the loan. County funds will be secured by a letter of credit from a financial institution. |
Jobs | One (1) permanent, full time equivalent job must be created for every $35,000 borrowed from the County. Total job creation must provide at least 50 jobs that will be made available locally. |