SKED LOANS

SKED has been designated by the U.S. Department of Treasury as a Community Development Financial Institution and offers a variety of loans programs to meet the needs of traditional manufacturers, the small business owner, technology-based companies, and local communities wanting to build speculative buildings. Combining the availability of its low-interest loan funds with state and local tax incentives, SKED can structure a compelling incentive package for any business.

Business & Industry Loan Fund

SKED provides low-interest, fixed-asset financing to new and expanding manufacturing companies to finance fixed assets such as buildings or equipment. The maximum loan is 45% of the project not to exceed $150,000. (pdf)

Small Business Loan Fund

Loans are made to businesses in the form of fixed asset financing to purchase equipment, construct new facilities or provide permanent working capital. The maximum loan amount is the smallest of 50% of the total project cost or up to $250,000. The minimum loan size is $35,000. Projects must create one new job per $10,000 invested or have a significant impact on the economic growth of a community. (pdf)

Micro Loan Fund

SKED's Micro Loan Fund is designed enhance long-term job growth by providing technical assistance to local entrepreneurs and short-term asset financing to small and emerging businesses in rural areas. The minimum loan is $5,000. (pdf)

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