Enterprise Loan Fund

to provide small businesses with the financing that cannot be found through other traditional lending activities.
As well as attempt to replace those jobs lost from the downsizing of the INEEL laboratories.

Eligible projects start at $5,000, and are usually no more than 85% of the total project costs.
Borrower injection must be a minimum of 15-20% of the total project. There is no requirement for a private third party lender in this program. However, based on the size of the project and available funds, it may be necessary.
The maximum terms are based on the life of the collateral, as specified in the RLF program guidelines mentioned before.
Eligible borrowers include healthy privately owned businesses. The business cannot be publicly traded, unless it is closely held, and the majority stockholders can personally guarantee the loan.
Eligible projects include working and seed capital projects; new machinery and equipment, furnishings and fixtures; new inventory; renovation and expansion activities; and some new construction or acquisition of real property.
All ELF loans require as much collateral coverage as can be provided. However, a loan is not declined solely on whether or not collateral is available. Collateral may include inventory, receivables, machinery and equipment, furnishings and fixtures, real estate, assignments of contracts, and personal or company guarantees.