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The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a BLP financial professional prior to relying on the results.

This calculator does not have the ability to pre-qualify you for any loan program. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. This calculator does not calculate the Annual Percentage Rate or Average Prime Offer Rates. BLP does not guarantee any of the information obtained by this calculator.

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Village of Union Grove

Union Grove Loan Program

The purpose of this program is to assist Union Grove businesses negatively impacted by COVID-19 and support business retention until the economy stabilizes.

 

This program is now available with 0% interest, three-month deferral, and up to $5,000 for businesses in the Village of Union Grove. The structure was intentionally created to provide an expedited application and disbursement process.

 

Eligibility

  • For profit business
  • Located in the Village of Union Grove
  • At least one year in business

The expedited application and disbursement process will help support businesses affected by COVID-19 with immediate cash needs until the economy stabilizes.

parameters

  • Up to $5,000
  • Working capital term loans
  • Other uses as deemed appropriate, i.e. FF&E, leasehold improvements, professional fees, etc.
  • Not required to document ‘use of funds’ following loan disbursement
  • Three month principal deferral
  • Seven year amortization period following deferral period
  • 0% interest rate for up to one year

With the help of RCEDC, we were able to create a 0% small business loan program we hope local businesses will find helpful. It was our goal to make these loans simple to apply for and to make the money available right away.

Mike Aimone

Union Grove Village President