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Your Business > Financing > SBA and Economic Development

Local Economic and Industrial Development Agencies

Benefits

  • Can provide expanding businesses with "gap" financing for fixed assets and working capital.
  • Can act as a certified development company to facilitate SBA 504 loans, which can benefit clients by lowering down payment requirements and providing fixed rate financing.
  • Sale / Leaseback transactions can result in considerable project cost savings.
  • Depending on the project, sales and mortgage tax exemptions may be available, while property tax abatements may be available for those companies meeting job creation requirements.
  • Subsidy programs can provide effectively lower interest rates on equipment acquisitions.
  • There are eligibility requirements, so check with your CNB Loan Officer.

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