Loan Programs

Eligibility

3CORE manages multiple Revolving Loan Funds on behalf of its member communities. Businesses seeking financing must be located within Butte, Glenn or Tehama Counties.

Use of Loan Proceeds

3CORE loan proceeds may be used for any of the following:

  • Working capital
  • Purchasing land, buildings or existing businesses
  • Purchasing furniture, fixtures, machinery and equipment
  • Business expansions or start-ups
  • Leasehold improvements
  • Lines of Credit

Size of Loan

The size of loan that 3CORE typically funds is between $25,000 - $100,000. Loan requests either larger or smaller than the listed range may also be considered.

Loan Terms

Generally, 3CORE offers loan terms between three and seven years, dependent upon the useful life of the asset (loan terms for purchasing land, buildings or businesses can be up to 15 years).

Interest Rates

3CORE interest rates generally range from 9-12 percent. While most loan terms are based upon a fixed interest rate, in some circumstances a variable interest rate may be warranted.

Requirements

Potential small business loan customers must inject, at a minimum, 10 percent of the total project cost. Under some of 3CORE's loan programs, one job must be created for every $20,000 loaned.

Fees

Loan applicants must submit a $250 fee with a completed application package. If a loan request is approved, an additional loan procesing fee will be charged (generally 2 to 3 percent of the total loan amount) and all direct closing costs.

Approved to offer SBA loan products under SBA's Preferred Lender Program

 

 

 

Additional Forms
Loan Department

For more info on 3CORE's Loan Programs, please contact our Loan Department.

Disclaimer

The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning creditors is The Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580.