Cumberland Small Business Fund (CSBF)

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Eligible Applicants – Small businesses (less than 50 employees)

Eligible Use – Real estate including land and building acquisition (eligible uses includes assistance with down payment and/or closing costs);  site preparation including environmental testing; purchase of new or used machinery or equipment as well as delivery, installation, and other related costs; working capital.  Debt refinancing is not an eligible use of the funds.

Loan Amount – Minimum amount $10,000.  Maximum loan amount under regular circumstances is $20,000.  However, under special circumstances, lending amount can be up to $60,000.

Interest Rate – Determined based on credit risk

Term – Typically up to 5 years

Equity Requirement – Assessed based upon project loan request

Job Criteria – Within three years of loan disbursement, create one full-time job for a Cumberland County resident who meets the low to moderate income guidelines as defined by HUD

Fees – Non-refundable $100 application fee (only credited at closing).  In addition, a 1% closing fee and $500 for document preparation are charged (other closing costs generated as a result of the transaction such as appraisal fees are the responsibility of the borrower)

For further assistance or additional information, please contact

Angela Aldrich

Economic Development Specialist
(717) 240-7183
angela@cumberlandbusiness.com