Loan and Guarantee Amount and Guarantee Terms

Loan and Guarantee Amount and Guarantee Terms. The amount of the loan guarantee will not exceed eighty percent (80%) of the loan amount or $750,000, whichever is less. Only with the express written consent of the MDA, may a lender be allowed to request a guarantee on the principal loan amount of up to $5,000,000. The minimum amount for an SBLGP eligible loan will not be less than $50,000. Loans for working capital, lines of credit, and accounts receivable will have a maximum guarantee term of five (5) years. Loans to finance fixed assets, such as equipment and real estate, will be eligible for a guarantee term of up to fifteen (15) years. The term will not exceed the useful life of the assets that are securing the loan or being financed with a maximum term of fifteen (15) years. The term of the SBLGP guarantee shall match the term of the financial institution’s loan, up to the maximum of fifteen (15) years (amortization may exceed the loan term).