Small Manufacturers Competitiveness Fund (DECD)
Financial and technical assistance to small manufacturer's that will enable them to become or remain competitive against out-of-state and foreign manufacturers.
What's the value to me?
If you are looking for a 50% matching fund for amounts up to $200,000 which can be used for working capital, machinery and equipment, etc.
Description & Overview
The Small Manufacturers Competitiveness Fund (SMCF) will provide financial and technical assistance to small manufacturer's that will enable them to become or remain competitive against out-of-state and foreign manufacturers.
Eligible Use of Funds:
- Working Capital
- Machinery and Equipment
- Leasehold improvements
- Other eligible uses under MAA
- Provide access to capital-loans up to a maximum of $200,000
- Payment for technical assistance, business counseling and guidance
- Provide client loan review and monitoring on a monthly basis
- Must have a manufacturing SIC code of 20XX to 39XX (Same as the Manufacturers Assistance Act)
- Business cannot be in receivership, bankruptcy or foreclosure
- Must be on good terms with suppliers (COD cash on delivery is acceptable-verifiable no liens)
- Capable of producing customer purchase orders for ongoing business cash-flow
- Current or projected cash-flow must show debt service coverage