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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />tailors financial programs for businesses by providing the key <br />link between loans from financial institutions and the types of <br />economic aid available through the government. <br /> <br />In addition, CRDC also furnishes a variety of management <br />assistance to small businesses in its area by way of quarterly <br />seminars covering such topics as financing business expansion, <br />marketing a small business, and small business record keeping. <br />CRDC also publishes quarterly newsletters which provide infor- <br />mation on upcoming seminars, new financing techniques, and the <br />status of new projects in the area. <br /> <br />The CRDC is comprised of 141 shareholders and is managed by <br />a nine-member board whose members are professionals in the com- <br />munity, volunteering their time and expertise towards their <br />improvement of the community. <br /> <br />What Is The SBA 503 Loan Program <br /> <br />The SBA 503 Loan Program provides subordinated mortgage <br />financing to business and industry, including manufacturing <br />enterprises. The program offers financing for fixed assets <br />including land acquisition, building construction, leasehold <br />improvements, renovation, modernization, and purchase of machi- <br />nery and equipment. Funds may not be used for debt refinancing, <br />interim financing, or working capital. <br /> <br />Each loan through the SBA 503 Loan Program may not exceed 40 <br />percent of the eligible project cost, or $500,000, whichever is <br />less. This 40 percent is guaranteed by the SBA. A local lending <br />-2- <br />