• Oct 26, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

The City of Kokomo, Indiana offers two Revolving Loan Fund Programs, aimed at revitalizing the Kokomo community by providing flexible, low-interest financing to new and expanding businesses.

Applicants may borrow to: – Construct, expand or convert buildings – Purchase land and buildings – Purchase machinery, equipment, furniture, fixtures, materials and manufacturing inventory – Provide working capital Technology and Industry Revolving Loan Fund Program Provides gap financing to primary-sector employers, including research and development facilities, engineering firms, logistics companies, manufacturing and industrial facilities, service-sector companies, high-tech entrepreneurial endeavors, life sciences initiatives and others.

Past recipients have included a wide range of businesses, from distribution companies to software firms, and from steel fabrication plants to screen-printing shops.

The program is designed for businesses that would like to locate or expand in Kokomo, but have difficulty receiving the full amount needed through conventional lenders.

Interest rates on RLF loans are set as low as four points below prime.

Project goals should include the creation or retention of one full-time job for each $10,000 loaned.

Loan amounts typically range from $50,000 to $300,000. Emerging Business Revolving Loan Fund Program is targeted toward new and emerging businesses, defined as businesses with 50 or fewer employees, and less than $1 million in expected annual gross revenue.

The program is designed for businesses that are unable to receive the full amount needed through conventional lenders.

If a business is unable to obtain any financing through conventional lenders, the Emerging Business Revolving Loan Fund Program may provide all funding for the project under some circumstances.

Project goals should include creation and expansion of new business, as well as job retention and creation.

Loan amounts typically range from $2,000 to $15,000.



Contact Information
City of Kokomo, Indiana
Address: 100 S Union
City: Kokomo
State: Indiana

Website: http://www.cityofkokomo.org/main.asp?SectionID=10&SubSectionID=92&TM=55412.24

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