A revolving loan fund (RLF), sometimes referred to as a microloan program, is a pool of money where loans are made and the repayments are returned and lent out again, which then allows for other similar investments. For our purposes, we are looking at a revolving loan fund focused on small businesses. There are thousands of low-interest, small
Read MoreAreas Served: Seminole County As part of Florida’s Front Porch Initiative, a Microcredit Loan Program was established to increase access to capital that will seed money to stimulate minority small business entrepreneurship in Seminole County, Florida. Through this fund, small amounts (up to $15,000) will be loaned to people who might not otherwise qualify for
Read MoreAreas Served: City of Newport News The Newport News Capital Fund will lend to businesses up to $250,000 to finance new fixed asset investment located in Newport News. The actual loan amount is determined (subject to the availability of funds and the approval of the Newport News Industrial Development Authority Board), through job creation and
Read MoreAreas Served: Cherokee, Ida, Monona, Plymouth, Sioux, and Woodbury counties in Iowa; Dakota and Dixon counties in Nebraska; Union and Clay counties in South Dakota Financing Available: $100,000 or 25% of Total Project Costs (the lesser of) for projects that create/retain jobs. $40,000 or 25% for projects with lower or no job creation/retention. Use of
Read MoreAreas Served: Statewide California The California Loan Guarantee Program enables a small business to obtain a term loan or line of credit when it cannot otherwise qualify for a loan. The program provides a lender with the necessary security, in the form of a guarantee, to approve a loan or line of credit facility. The
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