This loan program is for small businesses located in Tarrant County. A special emphasis is made to assist businesses that contribute to economic development and neighborhood revitalization efforts in low to moderate income areas.  ► Eligibility Small businesses located in WMCDC targeted areas that contribute to community revitalization or create or retain jobs. Business must occupy a minimum of 51% of real estate used as collateral. Management must have a majority ownership interest.   ► Targeted Areas   Tarrant County   ► Use of Funds Negotiated uses (i.e. business types and asset financed).   ► Financing Maximum LTV of 85%; WMCDC can hold 2nd lien position on collateral.   ► Amount Maximum loan is $100,000 with or without participating bank; WMCDC minimum loan is $50,000.  Higher amounts available with special loan structuring approval.   ► Equity Requirements Existing business 15% minimum. (Special purpose real estate equity requires an additional equity of 5 %.) Lower equity requirements available with special loan structuring approval.   ► Interest Rate Rate can be fixed or variable.  Rate is determined case by case;  market conditions, strength of transaction and loan structuring are took into consideration.   ► Terms Determined by amount and use of loan proceeds.  Maximum amortization is 20 years.  Prepayment penalty may be applied.     ► Collateral Requirements Sufficient collateral coverage for combined Bank and WMCDC loan required.  Capital assets such as real estate or equipment preferred.   ► Application Fee $100.00 non-refundable fee.   ► Loan Fee  Up to 2.25% of loan amount.   ► Closing Costs Can be rolled into loan.