Areas Served: Montgomery County
New and existing businesses that operate within Montgomery County, Illinois limits can apply for a revolving loan for eligible projects that include: Acquisition of land, buildings, and fixed equipment, Working capital and inventory, Site preparation and construction, reconstruction, or installation of buildings and fixed equipment, Clearance and demolition, removal or rehabilitation of buildings, and improvements.
Financial institutions can request Revolving Loan Funds for specific projects for parties they represent.
Requests between $5,000 and $50,000 will be considered.
However, the RLF board can increase the maximum participation amount up to 33% of the total project.
The Revolving Loan Fund interest rate is a fixed 2% rate for the duration of the loan plus the participating financial institution’s rate that can be up to 4% above the RLF rate on the Revolving Loan Fund portion of the loan.
Contact InformationMontgomery County Economic Development Corporation
Address: #1 Industrial Park Drive
City: Hillsboro
State: Illinois
Website:
http://www.montgomerycountyillinois.org/index.php
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