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- Loan recipient must be located in or establishing in BEDCO’s Service Area.
- The business must meet the U.S. SBA definition of a “small business”.
- BEDCO provides loans to new or growing businesses for:
- Real estate acquisition or improvement
- Business acquisition or expansion
- The purchase of furniture, fixtures, machinery, equipment, or rolling stock
- The purchase of new technology and/or
- Inventory and working capital
- The business must demonstrate, with a business plan, the capacity to repay its debt and meet financial goals.
- BEDCO finance is not a substitute for bank finance.
- BEDCO does not make:
- Unsecured loans
- Loans for passive real estate investment and
- Loans to take out existing long term debt (Some exceptions are made based on certain circumstances.)