Loan Guidelines

Guidelines for all loan programs:

  • A business plan is usually required, especially on 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.