Guidelines for all loan programs:

• A business plan is usually required, especially on the larger loan requests of $20,000 or more.
• Applicants must demonstrate that a financing gap exists, and that the bank is unable to fund the entire project.
• A personal guarantee is always required.
• The project must demonstrate sound management ability and the likelihood of success must be very high.
• An assignment of life insurance from the principal borrower is usually required.
• Applicant must have a satisfactory credit history.
• Cash flow projections and collateral values must be provided that demonstrate the repayment ability of the business.

Projects not eligible for loan programs:

• Debt refinancing is not an eligible purpose for the loan funds.
• Real estate development, primarily non-owner occupied.
• Agricultural production.
• Bars, restaurants, gaming establishments or amusement centers.
• Newspapers, media or entertainment businesses.
• Retail or service businesses that, in WCI’s judgment, are unduly competitive with existing businesses in their trade area.