Information is available through the DBE liaison office of each state and possession. Loan documentation and financing transactions are performed by the STLP bank which offers the line of credit. Repayment occurs as the project owner or prime contractor pays the invoice. The payment is made jointly to the borrower and to the STLP bank and is sent to the bank, which repays the amount borrowed against the invoice and transmits the balance to the borrower. A line of credit normally covers a one-year period and one or more renewals may be requested.
Term can be less than one year.
Completed applications may be forwarded to DOT or to the STLP bank. The name and address of each STLP bank and the states which it services are listed below. Any offer of a line of credit will be conditional upon the company receiving an eligible contract and will be subject to review after the contract is obtained. 781-4321 Juan Garcia, Asst.