Mountainland Association of Governments Small Business Loans Loan - PowerPoint PPT Presentation

Mountainland Association of Governments Small Business Loans

Loan Programs  Revolving Loan Fund – $10,000 - $50,000 loans to existing and start- up businesses in our region excluding Provo and Orem  Microloan Program - $500 - $5,000 loans to existing and start-up businesses in our region that meet certain income guidelines

Quick Facts $500,000 CDBG Grant to start RLF  $35,000 CSBG American Recovery and  Reinvestment Act of 2009 to start Microloan Averaging 5 applications per month  10 Loans since December 2009 totaling  $190,000. 23 Jobs retained and a minimum of 10 jobs  created Terms from 6 months to 5 years  Rates 8%-10% 

Revolving Loan Fund Loans Business Loan Purpose Hall’s Confections $45,000 Equipment, Inventory, New Products and Packaging, and Working Capital Lyf Gildersleeve - $10,000 Equipment, Inventory, Marketing and Advertising, and Flying Fish and Lotus Working Capital. Leaf Yoga Midway Adventure $20,000 New Equipment and Working Capital Company Mrs. Call’s Candy $50,000 Working Capital and Accounts Receivable Company Maple Mountain $10,000 Inventory and Marketing and Advertising Greenhouse MDG Cleaning Systems $10,000 Equipment Goodies Candy and Cake $30,000 Inventory and Working Capital TOTAL $175,000

Microloan Progam Business Loan Purpose ELBIS Alterations and $5,000 Equipment, Inventory, and marketing Tailoring LA Dresdins $5,000 Marketing and Advertising and Working Capital. Mrs. Tuckers Gift $5,000 Inventory Baskets TOTAL $5,000

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ELBIS Alterations