	advertising \| contact \| home
	Serving the Lakes Region communities of Andover, Boscawen, Franklin, Hill, Northfield, Salisbury, Sanbornton and Tilton

Committees

Chamber Meeting Archive

Capital Improvement Loan

Become a Member


	Click here to view our calendar of local events.

Capital Improvement Loan

The Capital Improvement Loan program is based on a base amount of $15,000.00 which is held in an interest bearing holding account within the Franklin Savings Bank. The purpose of the loan is act as a means through which enhancements and beautification may be done to a physical storefront or energy improvements and updates may be made.

Applicants must be current Chamber members
Business must be in operation for a minimum of 1 year
All applications will be submitted to the Membership and Community Development Coordinator for review
Qualified applications will then be submitted to the Loan Committee
Applicants will then be submitted to the Board of Directors for final approval
All approvals or declines will be provided to the Membership and Community Development Coordinator for Member notification

Terms

Loan Amount: Minimum $500, Maximum $2,000
($500 increments only)
12 or 18 month term
Interest free Time Note
Processing fee: 5% of total loan request - collected in advance
Total due on note maturity
Grace period of seven calendar days
Late pay offs are assessed a flat $100 fee
Late fee of $50 for each additional month

Customer will sign standard time note
Disbursements: Upon approval, loan funds will be disbursed from the Chamber Loan Fund account to Chamber member via cashier's check

Executive Director to pursue collection issues
Payments shall be sent to and tracked by the Treasurer
Management of the remaining loan fund available balances by the Treasurer, Membership and Community Development Coordinator, and the Board
Monthly and annual reporting on the Chamber Loan Fund to be given by the Treasurer and the Membership and Community Development Coordinator

- Chamber will not be assessing credit report data
- Interest free loans are provided to avoid the reporting and tracking of annual interest statements. The 5% processing fee is in lieu of interest income.
- Attached please find a copy of the loan application, please return to the Chamber office

Click here to download a copy of the loan application.

If your business is interested in becoming a member of the Greater Franklin Chamber of Commerce, click here to sign up!

Enter a business name or keyword to search our directory of members.
Category:

Keyword:

Click on your city below to get your local weather report.

Andover

Franklin

Northfield

Hill

Salisbury

Sanbornton

Tilton