Areas Served: Scioto County
The Scioto County Revolving Loan Fund (RLF) was organized in 1977 by the Scioto County Board of Commissioners to influence the economy of the County through an effective partnership of the public and private sectors.
The main focus of the RLF is to promote business start-up and expansion in Scioto County, Ohio by creating and/or retaining employment opportunities for low to moderate income persons.
The RLF goal is to overcome specific gaps in local capital markets that inhibit business and industry from obtaining suitable credit, and thereby impede local economic growth and stability.
The Scioto County RLF was made possible primarily by funding from the U.S. Economic Development Administration as well as from the Department of Housing and Urban Development through its Ohio Department of Housing and Community Development department.
The Scioto County RLF is the “Gap Lender,” loaning the difference between total funds needed and other loans and equity available.
No loan will be extended if other funds are available from private lenders or other sources on reasonable rates and terms which will permit accomplishment of the project.
The Scioto County RLF is willing to accept a greater degree of risk than many banks; however, the RLF Program still adheres to sound lending practices in the approval and administration of its loans.
Contact InformationScioto County
Address: 617 Court St.
City: Portsmouth
State: Ohio
Website:
http://www.sciotocountyohio.com/rlfa.html
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