Areas Served: City of Pinckneyville
The City of Pinckneyville, Illinois operates a local revolving loan program to provide financing to local businesses.
These funds are locally administered pools of money used to make loans or equity investments.
Funds can be used for working capital, land acquisition, building acquisition, rehabilitation or construction, and the purchase of machinery and equipment.
As the money is repaid by the borrowers, it is used to make other loans or investments.
In this manner, the fund becomes an ongoing or “revolving” financial tool.
Maximum Loan Amount: There is a state requirement that at least one full time-equivalent job must be created or retained for each $15,000 of RLF funds invested in a project.
Interest Rate: The RLF loan interest rate will be no lower than necessary to facilitate the business project.
Loans will be made for no less that a 3% interest rate.
Contact Information
City of Pinckneyville
Address: 104 South Walnut
City: Pinckneyville
State: Illinois
Website:
http://ci.pinckneyville.il.us/revolving-fund
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