ELCDC - Accessing the IRP Program

II. TERMS & RATES

[ I. Financing | II. Terms & Rates | IV. Collateral & Fees ]

Maturity

Typical loan terms will range from 3 to 15 years depending on the nature of the assets financed.

Asset Type	Maximum Term up to
Real Estate	15 Years
Inventory, FF&E (small scale equipment)	7 Years
Permanent working capital	5 Years

Revolving lines of credit will not be funded under this program.

Loans that reach an economically distressed or impacted market may receive preference in processing.

Interest Rates

Interest rates may be fixed for the life of the loan. Rates will typically be determined upon date of approval based on the Wall Street Journal Prime rate plus 2%, or some other index as determined by ELCDC.