Areas Served: City of Princeton
The City of Princeton, Illinois has direct, low interest loans available through its Revolving Loan Fund.
This pool of money 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 the community.
– Interest Rate: 3% – Term: 10 year maximum – Maximum Loan: $200,000 – Job to Loan Ratio: 1 : $15,000.00 – Leverage Ratio: 3 : 1 ($3 private money to $1 RLF money) – Eligible Costs: Land, Buildings, equipment, inventory, working capital – Job Creation/Retention: 51% of jobs created/retained must be low-moderate family income employees.
– Eligible Area: Business located within the City of Princeton corporate boundaries.
Contact InformationCity of Princeton, Illinois
Address: 2 South Main St
City: Princeton
State: Illinois
Website:
http://www.princeton-il.com/economic-development/incentives/revolving-loan-fund.html
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