Rate
5.50% APR fixed rate, no points (*rate subject to change*)

Collateral

• Loans must be secured by a first priority lien on assets to be financed
• Shared first liens may be considered on real estate loans conditioned upon total first lien position not exceeding 75% of appraised value

Eligibility
Companies currently doing business in New Hampshire or those contemplating expansion and economic development projects in a broad array of industry sectors.

• Purchasing or upgrading of machinery/equipment
• Building acquistion/remodeling

Amounts

• Minimum $240,000
• Maximum $10,000,000
• Loans may not exceed 75% of project cost
• Building acquisition/remodeling loans limited to 75% of appraised value

Conditions

• All loans are subject to credit approval on terms and conditions acceptable to Citizens Bank New Hampshire
• A minimum of one full-time job must be created within three (3) years of the completion of the project for each $40,000 borrowed
• Job creation certificate is subject to annual review by the New Hampshire Business Resource Center
• Standard legal fees are paid by applicant

Terms

• Machinery & Equipment: 5 years; fully amortized
• Building Acquisition/Remodeling 5 years; amortized on a 20-year schedule