Enterprise Loan means any First Lien Loan that is a Term Loan, of which, all or a portion of such Term Loan has converted into an accounts receivable or monthly recurring revenue (“MRR”) formula-driven borrowing base Loan.
Loans are made to businesses when credit is not otherwise available from owner investment, bank financing, and other sources to ensure the successful completion of activities to be financed. Private, for profit businesses are eligible for financing.
New businesses must have an equity contribution while existing businesses may contribute additional cash equity, and/or request consideration of the net worth of the business.
Retail, commercial, or service businesses should fulfill a local need for essential goods and services
Terms and conditions are negotiated depending on the needs of the applicant and ADP policy.
ADP has executed 18 Enterprise Loan Funds from 2015
How To Apply
To discuss a project idea and to obtain more information about the Enterprise Loan Fund, contact ADP through the portal
Preliminary Application
Applicants are asked to complete a short preliminary application form. This information is used for an initial review of the project by Enterprise Fund staff. If the project seems to fit the guidelines of the Enterprise Fund, applicants are invited to an application.
Standard Loan Application
New businesses and existing businesses will be asked to complete the Application Form. In this form, applicants are asked to give a detailed explanation of the project including a business plan, financial projections, historical financial statements, and other information.
Review and Closing
Loan applications are reviewed by the Loan Committee. Applicants are invited to make a brief presentation to ADP Loan Committee members and respond to any questions they may have. If an application is approved, the loan is closed as soon as possible. The timing of the distribution of funds will depend on the purpose of the loan.