The New Bedford Economic Development Council, in an effort to assist city small businesses during the Coronavirus (COVID-19) emergency, is spreading the word regarding its Lending Program.
Details are as follows. You can also email Lending@nbedc.org for further information.
NBEDC Lending Program
Loan Amount: Up to $50,000
Interest Rate: 6%
Term: Up to 72 months
Repayment: Three months interest only then fully amortizing
Use: Working Capital
NBEDC Loan Application
NBEDC Personal Financial Statement
Most recent year tax returns for business applicant and all principals
Year to Date Profit and Loss Statement
*Streamlined application and approval process for loan less than $10,000—Detailed information and application here.