Small Business Loans
We understand that small businesses sit at the heart of an energetic, local economy. They provide goods and services to residents, create jobs, nurture economic opportunity and innovation, and foster a sense of community.
What we do
LISC serves small businesses overlooked by traditional financing channels by providing flexible loan options and technical support. Through our suite of commercial and real estate loan products, LISC provides financing to for-profit businesses located in underserved neighborhoods and rural communities where we work. We strategically support businesses in low- and moderate-income communities, and businesses owned by veteran, woman, and minority entrepreneurs.
Permanent Working Capital
- Purpose: Working Capital
- Eligible Projects: Commercial and small business
- Loan Amount: $100,000-$500,000
- Interest Rate: 6% -10%
- Term: Up to 7 years
- Repayment:
- Fully amortizing payments based on period up to 7 years
- No more than 6 months interest only
- Loan Fees: 3% of loan + 3rd party costs + legal fees
- Collateral:
- UCC on all business assets
- Personal guarantees from principals
- Corporate guarantees, if applicable
Leasehold Improvement/ FF&E Loans
- Purpose: Leasehold Improvements, Remodel/Expansion, FF&E
- Eligible Projects: Commercial and small business
- Loan Amount: $100,000-$500,000
- Interest Rate: 6% -10%
- Term: Up to 7 years
- Repayment:
- Fully amortizing payments based on period up to 7 years
- No more than 6 months interest only
- For LI loans, loan term cannot exceed remaining term of lease
- Loan Fees: 3% of loan + 3rd party costs + legal fees
- Collateral:
- UCC on all business assets
- Perfected 1st priority lien on equipment
- Leasehold mortgage may be required for loans above $350,000
- Personal guarantees from principals
- Corporate guarantees, if applicable
Maker Space Loans
- Purpose: Acquisition, construction
- Eligible Projects: Commercial and multi-tenant maker space projects
- Loan Amount: $500,000 - $3,000,000
- Interest Rate: 6% -10%
- Term: Up to 10 years
- Repayment:
- Fully amortizing payments based on period up to 10 years
- Longer amortizations permitted
- Loan Fees: Up to 1.5% of loan + 3rd party reports + legal fees
- Collateral:
- UCC on all business assets
- Mortgage on property (including assignment of leases and rents)
- Personal guarantees from principals
- Corporate guarantees, if applicable
Commercial Real Estate Loans
- Purpose: Acquisition, construction
- Eligible Projects: Commercial and mixed-use projects
- Loan Amount: $500,000 - $5,000,000
- Interest Rate: 6% -10%
- Term: Up to 10 years
- Repayment:
- Fully amortizing payments based on period up to 10 years
- Longer amortizations permitted
- Loan Fees: Up to 1.5% of loan + 3rd party reports + legal fees
- Collateral:
- UCC on all business assets
- Mortgage on property (including assignment of leases and rents)
- Personal guarantees from principals
- Corporate guarantees, if applicable
Download an overview of LISC's lending products offered to small businesses here.
