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Business Loan Program
Eligibility
Business must be located in Androscoggin, Franklin or Oxford Counties

Loan Term
  • Usually, 7 years, or less, based on the business’ cash flow and useful life of the financed assets
  • Terms longer than 7 years may be negotiated, in certain instances
  • Prepayment is allowed without penalty

Loan Uses 
Building improvements, furniture and fixtures, equipment, inventory, supplies, working capital and/or refinancing debt

Security/Collateral
Assets being financed and other collateral, personal assets and personal guarantees, as required

Loan Amount 
  • $35,000 to $150,000 
  • Average loan is approximately $75,000

Interest Rate
Fixed Rate, 5%*

Fees
1% commitment fee and closing costs*

*All rates and costs quoted are for businesses located in municipalities that are members of AVCOG

Loan Application