Areas Served: City of Salem
The City of Salem, Illinois has direct low interest loans available through its Revolving Loan Fund.
This fund has been set aside by the City in order to provide a source of gap financing for expansion efforts of local industry and new industries wishing to locate within community.
These funds can be sued to fund construction, working capital, equipment, inventory and real estate.
The loan may fund up to 30% of the total project cost or up to $15,000 per job to be created or retained at an interest rate equal to 50% of prime, with flexible loan terms.
Contact InformationCity of Salem, Illinois
Address: 101 S Broadway
City: Salem
State: Illinois
Website:
http://www.salemil.us/Pages/SalemIL_Econdev/incentives%20and%20financing
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