Eligibility

• Be a for-profit company

• Located in the United States

• Be an operating company

• Demonstrate need for credit

• Meet an economic development objective

• Tangible net worth less than $8.5 million and average after tax net income of less than $3 million

• Owner must occupy 51% if existing building; or 60% if new construction

• Create or maintain at least one job per $65,000 of SBA financing; $100,000 for manufacturing

• Developers

• Financial institutions

• Media

• Not-for-profit businesses

• Gambling facilities

• Mini storage

• Apartment buildings

• Owners must be U.S. Citizens or registered aliens with green card.

• Owners cannot be convicted felons currently on probation.

• Anyone who owns 20% or more of the operating company must personally guarantee the loan.

• Liquid assets of the principals are taken into account in determining eligibility.