criteria

  • Loan recipient must be located in or establishing in BEDCO’s Service Area.
  • The business must meet the U.S. SBA definition of a “small business”.
  • BEDCO provides loans to new or growing businesses for:
    • Real estate acquisition or improvement
    • Business acquisition or expansion
    • The purchase of furniture, fixtures, machinery, equipment, or rolling stock
    • The purchase of new technology and/or
    • Inventory and working capital
  • The business must demonstrate, with a business plan, the capacity to repay its debt and meet financial goals.
  • BEDCO finance is not a substitute for bank finance.
  • BEDCO does not make:
    • Unsecured loans
    • Loans for passive real estate investment and
    • Loans to take out existing long term debt (Some exceptions are made based on certain circumstances.)