1. No category

Tri-State Business
Opportunity Fund
Small Business Loans
$50,000–$500,000
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Existing businesses
No real estate investment or development projects
No financing entities
Revenues up to $10 million
Loan must meet one or both of the
following public benefits:
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Creation and retention of permanent jobs, with 75%
of the jobs to be for low to moderate income residents
Operate in low and moderate income communities
1-200 employees
For more information on loan terms, please contact:
JESSIE C. LEE
Director of Small Business Lending - East
T (212) 231-4310
F (212) 231-4319
[email protected]
www.vedc.org
Tri-State Business
Opportunity Fund
TERMS
Loan Purpose:
Assist existing entrepreneurs in building
business net worth. Secured loans will be made to
businesses located in the Tri-State area for working
capital, business purchase, equipment, inventory,
tenant improvements, owner occupied commercial
real estate, and refinancing of existing debt allowed.
Interest Rate:
Borrowers shall pay VEDC market interest rates,
payable on a monthly basis. Currently rates are up
to 8.25%.
The index of the yield will be adjusted quarterly and
promptly advised to Borrower.
Maturity
Up to 5 years
Prepayment
No prepayment penalty
Loan Fee
3% of the loan amount plus out of pocket closing
costs