Areas Served: Lee, Russell
The Lee-Russell Council of Governments Revolving Loan Fund (RLF) is a locally controlled source of capital used to finance start-up and expanding businesses.
This program enables the Lee-Russell Council of Governments in collaboration with a private lender to financially assist small and medium-sized businesses in Lee and Russell County.
The RLF is designed to make loans to businesses whose startup and expansion will result in the creation or retention of permanent jobs and the enhancement of private sector investment.
Loan proceeds can be used to: – Purchase Land – Purchase Buildings – Construct New Buildings – Renovate Existing Buildings – Purchase Machinery and Equipment – Provide Working Capital Loan amounts range from $50,000 to $200,000. The borrower must provide 10% of total project cost, and 50% of the lending must come from a conventional lender.
RLF participation cannot exceed 40% of the total project coSt.
Contact InformationAddress: 2207 Gateway Drive
City: Opelika
State: Alabama
Website:
http://www.lrcog.com/planning.html
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