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Terms
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The city of Racine MLF Program is designed to maximize leveraging of private sector financing. Loan amounts range from $1,000 to $15,000. The interest rate will be fixed over the term of the loan. Rates vary between 4% - 8%, as determined by CEDCO and will be based upon the amount, cashflow and risk of the project. The term of the loan from one to ten years. Collateral will be required for all loans. The MLF program may require a first or second lien on assets and typically will request an unlimited guaranty on personal assets. |