Cowlitz Economic Development Council - Facilitating Growth Through Leadership & Action

The Lending Network

The Lending Network is a community based corporation established to lend money to qualifying business and others to help diversify employment and create or retain family wage jobs in Cowlitz, Lewis and south Thurston counties. Loans are made to those who do not otherwise have the ability to fully finance their project, or that need more flexible terms to make their project financially feasible.

Priorities

Manufacturers, distributors or wholesalers who are
expanding in or into the area that need facilities,
equipment or expansion capital.
Projects that will create or retain family wage earning jobs in the area.
Projects located in small communities.

Ineligible Loan Uses

Project for businesses engaged in agricultural production.
Recreational, conventional and tourist centers.
Motels and hotels.
Projects for businesses that are not at least 51% owned by United States citizens.

Program Highlights

Term loans are available to finance:

Land and building acquisition or construction
Machinery and equipment
Infrastructure development
Working capital and inventory (no lines of credit)
Polution Control and abatement
Professional expenses
Loan fees and closing costs

Loan Amounts

$50,000 to $150,000.
The fund can provide up to 75% of the total project costs.
However, it is generally expected the fund will provide
between 20% to 50% of the total financing available.

Terms

Up to 20 years depending on what is being financed.
Interest rates: fixed up to the market rate.
Negociated based on credit strength of applicant

Fees

2% loan fee plus project related closing costs.

Collateral

Adequate collateral is required. Business and
personal assests will be secured as aplicable.