Areas Served: City of Fowler
Over the past few years, the City of Fowler has been awarded more than two million dollars in economic development grants from the State of California’s Community Development Block Grant (CDBG) Program.
The purpose of the grants are to promote economic development and create jobs in small communities.
With the aid of these funds, the City has implemented a Revolving Business Loan Program for local business development and expansion projects.
The business loans are provided as gap financing in conjunction with the business’ own primary financing for their project.
The interest rate offered on the loans is extremely low – only two (2) percent! One of the requirements of qualifying for a business loan is that the project must create a minimum amount of jobs for a targeted income group, calculated at 80% of the area median income.
The City has also used the CDBG funds to provide infrastructure improvement grants, which have helped make facilities available for businesses to locate to properties in Fowler.
Contact InformationCity of Fowler, California
Address: 128 S. 5th Street
City: Fowler
State: California
Website:
http://www.fowlercity.org/economic_development/
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