Eligibility
- Business must be located in Androscoggin, Franklin or Oxford Counties
- Average annual sales for preceding three years must not exceed $5 million
- Must have fewer than 100 employees
Loan Term
- To be based on the business' cash flow and useful life of assets being financed; not to exceed 6 years
Loan Uses
Building improvements, furniture and fixtures, equipment, inventory, supplies, and working capital
Security/Collateral
Assets being financed and other collateral, personal assets and personal guarantees, as required
Loan Amount
$50,000
Interest Rate
6%
Fees
Closing Costs only
*All rates and costs quoted are for businesses located in municipalities that are members of AVCOG
Loan Application (PDF)