Areas Served: Jackson County
The purpose of the USDA Intermediary Relending Program (IRP) is to alleviate poverty and increase economic activity and employment in rural communities of Jackson County, Illinois.
Under the IRP program, loans are provided to local organizations (intermediaries) for the establishment of revolving loan funds.
The rural businesses targeted for IRP financing are: – Small manufacturing companies.
– Manufacturing related services.
– Developing services that have a uniqueness or technology that will add value to the District’s economy.
– Other businesses that may help a community improve its development potential.
Generally, retail businesses are not eligible.
Funds can be used to: – Purchase land & buildings – Construct new buildings or renovate/modify existing buildings – Purchase machinery & equipment – Provide for permanent working capital The maximum loan amount is $150,000 and cannot exceed $15,000 per full time job created.
The interest rate is 5% and the term varies depending upon the activity financed, with the maximum being 15 years.
Contact InformationJackson Growth Alliance
Address: Post Office Box 23
City: Carbondale
State: Illinois
Website:
http://www.jacksonbiz.org/news/
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