Areas Served: portions of Baldwin, Conecuh, Covington, Escambia and Monroe counties
Southern Pine has established a Revolving Loan Fund (RLF)for Alabama businesses in portions of Baldwin, Conecuh, Covington, Escambia and Monroe counties.
The fund is a pool of capital derived from grant monies, as well as money provided by the cooperative.
The purpose of the RLF is to provide gap financing for start up, expansion, and new businesses that attract new jobs or provide much-needed public health or social services in the local communities served by the cooperative.
RLF Interest Rates, Conditions & Terms – The maximum rate is the prime rate as published in the Wall Street Journal.
– The term is not to exceed 10 years.
– Building – 10 years.
– Real Estate – 10 years.
– Equipment – 5 to 7 years or anticipated life of the equipment.
– Working capital – 1 to 3 years.
Contact InformationSouthern Pine Electric Cooperative
Address: 39 W. Sunset Drive
City: Almore
State: Alabama
Website:
http://www.southernpine.org/economicDevelopment/revolvingLoanFund.aspx
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