Small Business Loan Participation Program
DEED will purchase 25% to 30% participations in loans made by approved CDFI and nonprofit lenders. Lenders will be responsible for setting loan terms. Participations will range from $10,000 to $250,000. Loan proceeds must be used for eligible business purposes, which may include equipment purchase, 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.
Borrowers must apply directly with approved lenders. Lenders will be chosen through an RFP process. Details on the RFP will be posted on our Competitive Grants and Contracts page.