Areas Served: City of Taft
The Taft Area Revolving Loan Program (TARP) was established in 1995 to provide financing to new and existing businesses in Taft.
The intent of the program is to create a healthy economic environment for job creation.
The program is funded through grants from the State of California Community Development Block Grant (CDBG) Program.
As TARP loans are repaid by area businesses, funds are available for additional loans thus providing a continuing source of financing for Taft area businesses.
LOAN AMOUNT TARP loans range from $5,000 to $50,000 depending upon the needs and the financial strength of the applicant.
Higher loans are available but require special approval from the State of California.
Since TARP loans are considered as gap financing, all other sources of capital, including commercial loans, owner equity, and personal funds will be considered and evaluated during the loan approval process.
TERMS TARP loans range from one to five years, but may be longer depending upon the proposed use of funds and the needs of the borrower.
RATES Interest rates for TARP loans vary between market and below market rate depending upon the proposed use of funds and the needs of the borrower.
Contact InformationCity of Taft, California
Address: 209 E. Kern St.
City: Taft
State: California
Website:
http://www.cityoftaft.org/pview.aspx?id=5758
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