Areas Served: South Bend, Indiana
The Industrial Revolving Loan Fund (IRF) provides low-interest gap financing to help companies in South Bend, Indiana expand their operations and facilities, and to assist start-up companies in the area.
IRF interest rates are generally below market and fixed.
IRF loans are intended to supplement traditional financing sources.
The preferred financing structure is: – Bank: 57% – IRF: 33% – Borrower: 10% Uses The Industrial Revolving Loan Fund program can be used to finance the following activities: – Purchase of real estate and construction of buildings – Acquisition of equipment, machinery, supplies or materials – Working capital based on individual review Eligibility Businesses eligible for Industrial Revolving Loan Fund assistance include: Businesses located in South Bend and operating in the manufacturing, transportation, communication, wholesale trade and service sectors.
The minimum IRF loan is about $100,000 with the maximum being $750,000
Contact InformationCity of South Bend, Indiana
Address: 227 W. Jefferson Blvd
City: South Bend
State: Indiana
Website:
http://www.southbendin.gov/business/economic_development/industrial_revolving_loan.asp
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