Areas Served: Village of Paw Paw
The primary goal of the grant or loan capital availability through the RLF will be private sector job creation or retention for businesses in the village of Paw Paw, Michigan.
The RLF will finance industrial or commercial activities in the Village of Paw Paw where opportunities for private sector jobs for low and moderate income persons are greateSt. RLF loan activities will emphasize direct job creation/retention by attracting capital for the start-up, expansion, or retention of business.
The Village of Paw Paw Revolving Loan Fund will retain the payback from loans including principle and interest payments, as well as any interest payments as the result of depositing these funds with financial institutions.
Up to ninety (90) percent of the funds in the RLF, at any particular time, may be utilized for direct loans or for loan guarantees.
The minimum loan will be $ 10,000. Fund balances will be deposited in an interest-bearing account in a local financial institution.
Any loans created or retained may not exceed $30,000 per job.
Contact Information
Village of Paw Paw, Michigan
Address: 111 E. Michigan Ave
City: Paw Paw
State: Michigan
Website:
https://www.pawpaw.net/
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