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“When our company needed to build a new headquarters facility to handle our growth, TBFC provided the funds to get it done, on time and within our budget.” Mr. Walter Dixon |
Tidewater Business Financing Corporation (TBFC) financing is provided in combination with bank financing and equity invested by the borrower.
A project financed by TBFC has three sources of funding:
- A TBFC loan for up to 40% of total project cost with TBFC holding a second mortgage position;
- A loan from a commercial bank of the borrower’s choosing for 50% of total project cost with the bank holding the first mortgage position; and, an equity investment from the small business borrower for at least 10% of the project cost.
Tidewater Business Financing Corporation loans have a term of 20 years when used to acquire real estate and a term of 10 years when used to acquire machinery and equipment. Both loans have a very low competitive fixed rate for the term of the loan.
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