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Small Business Loan Participation Program

DEED is now accepting request for proposal responses from lenders who would like to participate in the program.

If you are a business is seeking funding, a list of enrolled lenders will be posted on this site as soon as lenders have been selected.

The Small Business Loan Participation Program (SBLPP) is part of the State Small Business Credit Initiative (SSBCI). DEED will purchase 25% to 30% participations in loans made by approved non-depository Community Development Financial Institution (CDFI) and nonprofit lenders. Lenders are responsible for all credit decisions and loan terms. Borrowers must apply directly with an approved lender.

Purchased participations will range from $10,000 to $250,000. Loan proceeds must be used for eligible business purposes, which may include equipment purchases, working capital and startup costs, as well as real estate purchase, construction, renovation, or tenant improvements of an eligible place of business. Loans may not be used for passive real estate.

Lenders will be chosen through a competitive request for proposals (RFP) process. The RFP is now open on DEED's Competitive Grants and Contracts page.

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