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BLF Committee |
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Nov 15 - Oct 23 |
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Region 10
Revolving Loan Fund Program
The purpose of the Revolving
Loan Fund (RLF) Program is to provide financing to new and existing businesses
in the Region 10 service area. Targeted purposes for RLF funds include “gap
financing” for situations where banks are not able or willing to
finance startup or other specific projects, job creation/retention, microenterprise
development, and energy-saving rehabilitation projects.
Since its inception
in 1984, the RLF program has loaned almost $6 million to hundreds of
Region 10 businesses. Ninety-five percent of
these businesses have succeeded, adding or retaining jobs, and contributing
to local economies. The loan program works closely with local banks
and other financial institutions as needed to meet the financing needs
of businesses.
The loan program is capitalized by a variety of federal,
state, and local funds. As loan funds are repaid they are again used
to finance
another business – thus revolved. The terms, rates, fees and
requirements vary for each funding source.
The Region 10 staff will be glad to assist you with specific details
that may apply. For further information, contact Region 10 at 970-249-2436
or e-mail region10rlf@region10.net.
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