The Lending Network is a community based corporation established to lend money to qualifying business and others to help diversify employment and create or retain family wage jobs in Cowlitz, Lewis and south Thurston counties, Washington.
Loans are made to those who do not otherwise have the ability to fully finance their project, or that need more flexible terms to make their project financially feasible.
Priorities -Manufacturers, distributors or wholesalers who are expanding in or into the area that need facilities, equipment or expansion capital.
– Projects that will create or retain family wage earning jobs in the area.
– Projects located in small communities.
Ineligible Loan Uses – Project for businesses engaged in agricultural production.
– Recreational, conventional and tourist centers.
– Motels and hotels.
– Projects for businesses that are not at least 51% owned by United States citizens.
Program Highlights Term loans are available to finance: – Land and building acquisition or construction – Machinery and equipment – Infrastructure development – Working capital and inventory (no lines of credit) – Pollution Control and abatement – Professional expenses -Loan fees and closing costs Loan Amounts – $50,000 to $150,000. – The fund can provide up to 75% of the total project costs.
However, it is generally expected the fund will provide between 20% to 50% of the total financing available.
Terms – Up to 20 years depending on what is being financed.
– Interest rates: fixed up to the market rate.
– Negotiated based on credit strength of applicant
Cowlitz Economic Development Council
Address: 1452 Hudson Street