NBEDC Lending Program for New Bedford businesses

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

 

Required Documentation:

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.

NBEDC website