eBridge Fund

The eBridge Fund loan is not designed to finance projects entirely. Applicants must demonstrate that they have 10–15 percent of the requested amount as available capital for their project. The exact amount will be determined after each application is reviewed. It is the applicant’s responsibility to provide evidence of their available capital, which may include personal or business savings. The eBridge Fund reserves the right to deny any loan application if the applicant cannot demonstrate sufficient available capital to complete the project.

• Loan amounts: $15,000 – $50,000
• Startup Businesses: (0-3 years old): Can apply for loans up to $25,000
• Existing Businesses (3+ years old): Can apply for loans up to $50,000
  *Program funding is limited, and consideration of loan applications is subject to the availability of funds.
• Interest rates: Fixed, As low as 6.35%.

*Subject to change based on the prime rate quoted in the Wall Street Journal.

Length of Terms:

• Working Capital: 3 to 5 years
• Machinery & Equipment: 10 years
• Real Estate: 15 years
• Collateral:  All loans require collateral; the type and amount required will vary depending on the risk involved with each loan. Assets belonging to the company, such as inventory, machinery, equipment, fixtures, and accounts receivable, as well as the owner’s personal property, can serve as collateral.
• Down Payment:  Each project will require a minimum of 10% down payment.
  Origination Fee: 3

*The eBridge Fund may finance the loan origination fee for amounts above $25,000.

• Application Fee: $150.00 (non-refundable)