CEDLI Direct Lending Program
In cooperation with the California Economic Development Lending Initiative, Nor-Cal FDC operates a direct loan program for the new and emerging companies.
The typical profile for companies that are considered for this direct loan program are new business enterprises as well as established companies that have been unable to obtain financing from conventional lending sources or government guaranteed loan programs.
Eligibility Criteria: As a direct lender, Nor-Cal FDC will use the following criteria to determine whether a business is a suitable fit for this loan to lender program:
- Adequacy of credit standing (personal and/or business)
- Adequacy of collateral available to mitigate loan risk
- Specific type of business product(s) or service offered
- Amount of verifiable non-borrowed funds available or injected into the business (usually 25% to 30% of the total capitalization needed)
- Adequacy of business plan and sales and marketing plan
- Review of personal financial condition
- Review of prior-year tax returns (personal and business)
Loan Terms: Loan Maturity Periods
- Loans up to $25,000 will have a term of 36 months
- Loans over $25,000 but less than $75,000 will have a term of 48 months
- Loans over $75,000 up to a maximum of $100,000 will have a loan term of 60 months