Borrower Occupancy Requirements
- 51% if project involves existing building.
- 60% if project involves new building or 80% within 3 years
- 10% borrower
Loan Limit
- $1.5 MM
- $2 MM in rural areas
Special Use Building
If the business has been in existence for less than 2 years or if the project is a special use building such as a gas station or movie theatre, then the following apply:
- Borrower injection: 15%.
- Mountain West Business Finance Loan Max: 34%
Manufacturing Projects
- 50-40-10 lending ratio
- Loan limit: $4 MM
Equipment
- Cannot be "rolling stock," or vehicles licensed to operate on roads
- Must have at least a 10 year useful life
- Same lending ratios as real property
Ineligible Businesses
- Spec. real estate
- Non-profits
- Passive real estate investments
- Gambling
- Financial institutions
- Opinion molding entities
- Pyramid sales
- Illegal activities
- Monopolies
- Principal owners on probation, parole or with pending criminal charges
- Book and magazine publishers
Ineligible Projects
- Franchise fees
- Lender fees on permanent loans
- Organizational costs
- Working capital / mortgage refinance