Federal Financial and Technical Assistance Programs
Small Business Administration
Certified Development Company (504) Loan Program
The 504 Certified Development Company (CDC) Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. A Certified Development Company is a non-profit corporation set up to contribute to the economic development of its community. Typically a 504 project includes a loan secured with a senior lien from a private-sector lender covering up to 50 percent of the project cost, a loan secured with a junior lien from the CDC which is backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost. A contribution of at least 10 percent equity from the small business being help is asked. The maximum SBA debenture is $1,000,000,000 for meeting the job creation criteria or a community development goal. Funds may be used for fixed asset projects such as, but not limited to, purchasing land, street improvements, construction/renovation of new facilities, and the purchase of long term equipment.
Small Business Administration Loan Programs
The SBA has a number of guaranteed loan programs designed to meet the needs of small businesses.
United States Department of Agriculture
Agricultural Telecommunications Funding Program
Program is a competitive grants program, finances the construction, maintenance, improvement and expansion of telephone service and broadband in rural areas.
Business and Industrial Loan Guarantee Program
This program provides guarantees on loans of up to $10 million made by private lenders for start-up or expansion purposes to businesses located in rural areas with populations of less than 50,000.