Compare Programs

Depending on your company’s needs and qualification criteria, GrowBiz Fund may be able to make one or more loans available to you. Criteria that apply to these various programs are explained in this table.

  SBA Grow Loan Regional “166” Loan Revolving Loan USDA-IRP Loan SBA-ILP Loan
Eligible Business Service, Commercial, Retail, Industrial & Distribution Primarily Manufacturing, Wholesale & Distribution Industrial, Commercial & Service Industrial, Commercial & Service Service, Commercial, Retail, Industrial & Distribution
Maximum Loan 40% of project cost, up to $5MM or $5.5MM for Manufacturing 45% of project cost, up to $500,000 40% of project cost, up to $150,000 40% of project cost, up to $150,000 90% of project cost, up to $50,000
Interest Rate Based on T-Rates– Fixed Based on Prime Rate– Fixed Based on Prime Rate– Fixed Based on Prime Rate– Fixed Based on Prime Rate– Fixed
Loan Term M&E–Up to 120 mos. RE–Up to 240 mos. M&E–Up to 120 mos. RE–Up to 180 mos. M&E–Up to 120 mos. RE–Up to 180 mos. WC–Up to 36 mos. M&E–Up to 60 mos. RE–Up to 180 mos. WC–Up to 36 mos. M&E–Up to 60 mos. RE–Up to 180 mos. WC–Up to 36 mos.
Collateral 2nd Mortgage or Lien
Personal Guarantee
Parity Mortgage or Lien Personal Guarantee or LOC 2nd Mortgage or Lien
Personal Guarantee
2nd Mortgage or Lien
Personal Guarantee
1st Mortgage or Lien
Personal Guarantee
Job Creation 1:$65,000 1:$50,000 1:$25,000 1:$25,000 N/A
Other Factors Project Interim funded by bank Project Interim funded by bank Borrower must be
located in either Mahoning or Trumbull Counties
Borrower must be located in rural areas of counties Borrower must have been denied credit by a bank

NOTE: This table is for informational purposes only. It does not in any way constitute a commitment for funding by Mahoning Valley Economic Development Corporation (MVEDC) and/or any of its affiliates or subsidiaries.