Areas Served: Town of Carrboro
The Town of Carrboro created its revolving loan fund in 1986 for projects that result in the creation or retention of jobs targeted specifically to low and moderate income persons.
Loans from the fund are made to private non-profit and for-profit firms for projects such as construction or renovation of a building, purchasing existing buildings, the acquisition of equipment, the extension of utilities or streets to new sites, parking lots, and inventory.
Other potential projects are explored with applicants as long as it can be shown that new employees will be hired or employees who would otherwise lose their jobs will be retained.
The project must use some private funds, preferably at least 50% of the project coSt. Project must create or retain at least one job per $10,000 of CRLF moneys.
Fifty-one percent (51%) of the jobs must go to individuals in the low and moderate income category.
Contact InformationTown of Carrboro, North Carolina
Address: 301 W. Main St.
City: Carrboro
State: North Carolina
Website:
http://www.ci.carrboro.nc.us/173/Revolving-Loan-Fund
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