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A
GAF loan helped Catskill Custom Carpentry in Kingston, NY
buy a four-story building, adding 16 new jobs in the process.
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The
NDC Grow America Fund provides financing to growing small businesses
in partnership with client communities throughout the country.
GAF operates as a community development bank to support the job
creation and expansion of eligible small businesses in under-served
areas, particularly minority and women-owned businesses. The financing
provided is partially guaranteed by the U.S. Small Business Administration
under GAF's Small Business Lending Company license.
NDC's
mission means that GAF lending differs from conventional lending
by providing:
- Longer
Terms – Repayment using longer terms mean smaller
monthly loan payments, giving the borrower more time to reach
full potential
- Larger
Loans - GAF's loans range from $100,000 to $2,000,000
- Lower
Down Payments - Higher loan-to-value ratios allow
the business to maximize equity available for growth
- Lower
Interest Rate - Community development rather than
corporate profit is our goal, so we are able to provide lower
interest rates
- Better
Structure - GAF matches the term of the loan to the
life of the assets being financed, making sure debt service
doesn't exceed available cash flow
These
features make a difference! We finance viable businesses with
true staying power and growth potential that don't meet a conventional
lender's profile by providing the credit they need to realize
their full potential. Participating communities capture the job
creation and economic energy of small business growth that are
so crucial for economic and social well-being.
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