EDA/RLF Loan Program
Description
Stimulate economic development objectives by strengthening the local economy, stimulating private investment & enhancing job opportunities. Fills a funding gap when alternative sources of public/private financing are not available. Use of Funds
Working capital; Furniture; Fixtures & Equipment; Land & Building Purchases. Financing Methods
Direct funding Headwaters RC&D Area, Inc.; $10,000 Full-time equivalent jobs created/saved. Qualification
EDA/RLF loans fill a funding gap when alternative sources of funds are inadequate or unavailable based on number of full-time equivalent jobs created or retained. Loan Amounts
Generally between $10,000 and $100,000.
Term of Loan
Working Capital: 5 - 7 years
Equipment: 10 Years Maximum (based on life of equipment)
Land/Buildings (Purchase): 15-20 Years
Interest Rate (Subject to Change)
6% Interest Rate. Fees (Subject to Change)
Loan Fee: 1% of loan amount. Collateral
Available Business and Personal Assets. Equity & Matching Funds Requirements
Matching Funds: 2:1
Equity Required: 20% Back to Loan Program Home Page | 
