Areas Served: Clay, Effingham, Fayette, Jasper, and Marion Counties, Illinois
The Rural Business Initiative Loan Program can be used by businesses in Clay, Effingham, Fayette, Jasper, and Marion Counties in Illinois support both fixed asset and inventory/working capital financing needs.
This flexible direct loan program can provide up to 75% of the project’s total cost (normally in cooperation with the borrower’s equity and conventional bank financing) or $250,000 whichever is less.
Typical RBI repayment terms are as follows, but can be modified to some extent to meet the borrower’s debt repayment capabilities: Inventory = 2/3 Years Working Capital = 2/3 Years Rolling Stock = 2/4 years Equipment = 3/7 Years Real Estate = 15 Year Maximum
Contact Information
South Central Illinois Regional Planning & Devt.
Address: 12- South Delmar Ave, Suite A
City: Salem
State: Illinois
Website:
https://www.scirpdc.com
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