The Business Loan Enhancement Program (BLEP) facilitates this by enabling participating banks and lending institutions to provide their customers with up to 90% fixed asset financing. The BFA guarantees that portion of the loan that exceeds the bank's lending guidelines (maximum guarantee the lesser of $250,000 or 20% of project cost), enabling the bank to keep the "effective" loan-to-value ration within standards. The guarantee is reduced dollar for dollar by principal payments on the loan.

To be eligible for a loan through the Business Loan Enhancement Program, a New Hampshire business must have at least 25 full-time equivalent employees, and must demonstrate adequate cash flow to repay the loan.

To find out more about the Business Loan Enhancement Program, contact us at (603) 415-0190.

 

 
 

ELIGIBILITY

  • The maximum guarantee amount shall not exceed the lesser of $250,000 or 20% of the project cost
  • The loan amortization must not exceed 20 years
  • ny real estate financed must be owner occupied
  • The guarantee shall be reduced dollar for dollar by principal payments on the loan
  • The maturity of the loan must not exceed 10 years
  • The total principal amount of the loan may not exceed 90% of the appraised fair market value of the collateral securing repayment of the loan

HOW TO APPLY

  • The business applies for a loan through a participating bank. If a guarantee is necessary, the bank wil submit an application to the BFA
  • All guarantees must receive approval from the BFA and authorization from the Governor and Council of the State of New Hampshire
  • The terms of the loan will be determined by the bank, keeping in mind the BFA's guarantee criteria


FEES

  • Up to 1% of the loan amount is due at closing
  • A fee of up to 2% of the loan amount is due annually and is paid in arrears