Term Loans
The BDIC lends to viable businesses that are unable to obtain financing elsewhere.
If your business requires customized or non-standard repayment terms, the BDIC can customize the prepayment schedule to meet your needs.
The BDIC offers a choice of fixed or variable interest rates. Rates are based on the credit risk involved. Fixed rates are quoted as a fixed percentage but variable rates are quoted as ‘Prime + 2%, 3% or 4%’. Variable rate loans can be converted to a fixed rate at anytime you choose; however, fixed rate loans may only be converted to a variable rate on the renewal date.
Application form can be found here
For more information on term loans, please contact your regional Industry, Tourism and Investment office or contact us at 867-767-9075.