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ECONOMIC ADVANTAGE
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TAXABLE SMART BONDS

Eligible Businesses:
Any commercially viable borrower proposing to finance the acquisition or expansion of commercial or industrial assets.
 
 
Program Summary:
Program provides credit enhanced, taxable, long-term bond financing for the construction or acquisition of real estate and the purchase of new or existing machinery and equipment. The maximum bond amount is $7 million.
   
Program Example:
A $1 million loan for real estate could be eligible for a $900,000 taxable bond.
   
TAX-EXEMPT SMART BONDS (FAME)
   
Eligible Businesses:
Any commercially viable borrower that proposes to finance the acquisition or expansion of manufacturing assets.
 
 
Program Summary:
Program provides tax-exempt interest rate bond financing for manufacturing borrows whose needs do not exceed $7,000,000. Bonds may be used to purchase and/or construct a manufacturing facility, and/or purchase new machinery and equipment. Bonds may be structured to finance up to 90% of an eligible loan based on collateral value. Tax-exempt bonds amount may be issued up to $10,000,000, but credit enhanced amount may not exceed $7,000,000.
   
Program Example:
A $1 million loan for real estate could be eligible for a $900,000 tax-exempt bond.
 


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