SENDD provides loans and financial packaging assistance to businesses throughout the 16-county region. The Revolving Loan Funds were funded by USDA – Rural Development and the US Economic Development Administration (EDA) and offer favorable interest rates and terms per the programs’ guidelines.
The primary goal of the fund is to provide financing and/or refinancing for start-up and existing businesses that cannot obtain sufficient conventional financing or to attract new businesses. Eligible businesses include manufacturing, service, telecommunication, food-based, childcare, retail, agricultural, etc.
Loan activities may include acquisition, construction or renovation, working capital, equipment/ machinery, public infrastructure, etc. Loan amounts may not exceed $200,000 and cannot be lower than $50,000. Terms will be determined based on the loan activity. Interest rates charged are at least 75% of the current Wall Street Journal Prime Rate.Â
To determine if your project is eligible for a SENDD loan, please complete the pre-application and submit to the loan officer. You will be contacted within seven days after the pre-application is submitted. If eligible, you will be invited to fill out the full application.