Provide loans for selected industries. Manufacturing, processing, or value-added industries having credit ratings of A or better. Must demonstrate significant positive economic impact. Requires community match, private funding, and outside lender participation. Provide interest rate buydown for selected businesses that create jobs.
Community funds remainder.
Manufacturing, processing, data processing, communication, and telecommunications businesses. Promote commercialization of new technology. Requires community match, private funding, and outside lender participation. More than 5 miles outside a city with a population exceeding 8,000. Requires lead lender to originate loan.