Areas Served: Escambia and Santa Rosa Counties
Escambia River Electric Cooperative’s (EREC) RLF is a local pool of capital to promote rural economic development in theEscambia and Santa Rosa Counties of Florida.
The fund provides financing for start up, expanding and new businesses that attract new jobs or provide needed public health or social services.
In order to maintain the goal of noncompetition with other lending facilities, RLF funds are not to be the only source of financing but are to be used in conjunction with supplemental financing for a proposed project.
As borrowers repay their RLFs, the funds are returned to the RLF to be loaned to other businesses to create additional jobs and stimulate the economy.
Eligible Businesses: 1. Business ventures corporations, partnerships, sole proprietorships and cooperatives.
2. Local governments or public entities.
3. Non-profit entities.
4. Tribal authorities.
Eligible Projects: 1. Industrial or commercial development.
2. Small business expansion.
3. Business incubators.
4. Community infrastructure or facilities*.
5. Medical facilities*.
6. Training or educational facilities
Contact InformationEscambia River Electric Cooperative
Address: P. O. Box 428
City: Jay
State: Florida
Website:
https://www.erec.com/community/economic-development/
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