Step 1: Size
Montana & Idaho CDC’s business loans range from $1,000–$1,000,000, with an average loan size of $100,000.
Step 2: Loan Structure
Montana & Idaho CDC’s loan terms and structures vary depending on the client. In general, we structure 5–10 year loans. We also offer lines of credit. We are flexible with collateral requirements, particularly for our microloans (less than $50,000). We accept real estate, business equipment, and certain personal property as collateral. First position is not required. We offer Montana & Idaho CDC stand-alone loans and also bank partnership and bank participations. We provide business development services during the application, and over the life of the loan.
Step 3: Uses
Montana & Idaho CDC loans may be used for business purposes, such as purchase of real estate, equipment, or inventory, and for remodeling, working capital, or purchase of an existing business.
Step 4: Rates
Montana & Idaho CDC’s interest rates vary depending on the client and the specific loan fund sources. In general, Montana & Idaho CDC’s rates are 2–3% points higher than current bank financing rates. Fees include a 3.5% origination fee, $100 application fee, and closing costs.
Dollars into Difference
Big Impacts for Small Businesses
Owner of Nova Cafe, Serena Rundberg poses with staff members.+