Short Term Lending Program

Financing for small businesses to access, their transportation-related contracts to participate in both small and underdeveloped business use (OSDBU) Financial Aid Department of the short-term lending program (STLP) 's office will manage. STLP Disadvantaged Business (DBE) certified small businesses and other Department of Transportation (DOT) DOT certified or funded contracts and sub-contractor to undertake the appropriate interest rates for working capital financing offers.

Works: How much funds contract (s) are funded to meet the cost of performing short-term use.

Credit lines provided by OSDBU through cooperative agreements between DOT and the Participant loans are managed. Final payment is made with the approval of the Lender and the DOT to join.

The interest rate loans, variable rate depends on the Wall Street Journal Prime Interest Rate.

line of credit includes a one-year period. They were convenient, the applicant), a regeneration process (you can claim up to five years.

Lender Participation with an application for applying for a full $ 150 application fee is submitted.

Participant loans are made by processing and credit services.

Borrow funds and contract (s) of each invoice against the debtor's future is being financed - up to 85 percent of the total bill. Direct participation of each bill payment (for otherwise the assignment of funds "as referred to") the project owner or main contractor by the Lender and the Borrower addressed to the two will be paid by check. Principle and interest payments owed the bank and the borrower's re-releases for the balance.

Prohibited Use of Funds: not available for loan guarantees:

* Contract mobilization
* Equipment purchases or other long-term use
* Refinancing existing debt
Tax * Payment
investors or stock holders, * Distribution

General Program Requirements
Who Can Apply: All candidates STLP eligibility requirements for a line of credit guaranteed by USDOT to be taken into account must be appropriate. Eligibility requirements to be made by the DOT to all recipients of aid on the federal aid yet USDOT transportation-related contracts are designed to ensure performance.

DOT / OSDBU loan program must fit all the requirements under the financing will be considered for the entire company:

1. A certified Disadvantaged Business (DBE), an agency of DOT certification guidelines (49 CFR Part 23 and 26 by applying the categories below) or by the Small Business Administration:
* 8 (a) Business Development Program
* Small Disadvantaged Business (SDB)
* Service Disabled Veteran-Owned Business (SDVOB)
* HUBZone
2. DOT federal funds already given a job, in whole or in part, transportation-related contracts, namely, maintenance, rehabilitation, reconstruction, improvement, or any state, local or federal transportation mode should be revived.
3. Must have an established track record of business - companies not to start.
4. Is current on all federal and state taxes.

Credit conditions
Short-term credit line is used for working capital needs, particularly transport of accounts receivable related to transport and sub-contractor to undertake the contract is created by. Maximum loan amount is $ 750,000.
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