SBA ILP (Intermediary Lending Pilot Program)
Helping small businesses start and expand
Why choose SBA ILP: These fixed-rate, 5-15 year term loans up to $200,000 are intended for small businesses who may not be able to obtain conventional funding, or who need bridge financing for a conventional loan. ILP loans may be used for working capital, equipment and inventory or real estate. The ILP program was established to help businesses and business owners whose collateral or credit scores may have been negatively affected during the economic downturn.
Loan amounts: Up to $200,000
Down payment: Minimum 10%
- Working capital, equipment and inventory and real estate
- Special emphasis on businesses in Fargo, Grand Forks, Bismarck and Minot
- Special emphasis on businesses run by women entrepreneurs
Collateral and security: All loans shall be secured by the available assets of the borrower and its principals to the extent necessary to protect the interests of the lender as a secondary source of repayment. Lien on assets financed plus additional collateral as necessary.
Terms: 5-15 years
Rate: Fixed rate at the time the application is reviewed, depending on risk and length.
Other questions? See our FAQ
Contact us to discuss project feasibility and details of this and other loan programs.