Areas Served: City of Fulton
The City of Fulton Revolving Loan Fund is used to stimulate economic growth in the City of Fulton, Illinois by assisting with the retention and growth of an existing industrial and commercial base, providing needed equity to new start-up businesses and providing an incentive for established businesses to relocate to Fulton.
– The City of Fulton is a secondary lender.
– The City will lend up to $15,000 per each full time employee.
– The City will lend up to 30% of the total project costs.
– Interest rates are typically lower than a bank but must be approved by the Revolving Loan Fund Committee.
– The City’s terms on loan vary between 5 to 20 years depending upon loan amount, project and approval from the Revolving Loan Fund Committee.
– Eligible uses of the loan: site development/infrastructure, construction of a new facility, renovation of an existing facility, leasehold improvements, purchase of new or used equipment, and working capital.
Contact InformationCity of Fulton, Illinois
Address: 415 11th Avenue
City: Fulton
State: Illinois
Website:
http://www.cityoffulton.us/development/economic-development-opportunities.html
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