Taylor EDC sells land to Buyer (Borrower)
with owner-financing based on projected
jobs and new capital investments.
No payments for 10 years on land
loan. Note can be forgiven.
Title is conveyed to Buyer with a
subordinated vendor's lien, so Buyer
owns land at closing.
EDC subordinates its lien to lenders
such as SBA and Bank, who maintain
1st and 2nd liens.
Buyer uses land value as equity toward
SBA and Bank loans for building, equipment,
and construction purposes.
Taylor EDC forgives the loan and
converts the land loan to a land-grant
upon maturity in 10 years if the project
is successful based on required jobs
and capital investment projections.
TEDC issues Borrower a 1099 statement
and releases our lien on the property
after the loan is converted to a grant
in 10 years.
Lot Sizes from 2-acres to 27-acres
Creek Industrial Park