Areas Served: Ballard, Calloway, Carlisle, Fulton, Graves, Hickman, Marshall, and McCracken Counties
The Rural Business-Cooperative Service (RBS) provided a grant under the Rural Business Enterprise Grants (RBEG) Program to the PADD, who then created a Revolving Loan Fund Program.
The RLF allows ultimate recipients to borrow the funds to finance and facilitate development of small and emerging private business enterprises located in any area other than a city or town that has a population of greater than 50,000 within the Kentucky Counties of Ballard, Calloway, Carlisle, Fulton, Graves, Hickman, Marshall, and McCracken.
Grant funds do not go directly to the business.
The maximum RBEG-RLF loan is generally $150,000. Customer Types: Loans provided to printing services, specialty food franchises, and automotive body repair shop.
Use of Proceeds: Land, Building, and Equipment Payback Period: Up to 25 years Min. Loan Amount/Cost Per Job: $25,000/job created Max. Loan Amount: $100,000 Interest Rate: Tied to Prime Rate Eligible Companies: Start-up or Expanding Service Area: Ballard, Calloway, Carlisle, Fulton, Graves, Hickman, Marshall, and McCracken
Contact InformationPurchase Area Development District
Address: 1002 Medical Drive
City: Mayfield
State: Kentucky
Website:
http://www.purchaseadd.org/Business_Lending/Lending_Programs.html
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