Areas Served: City of Tacoma
Revolving Loan Fund The RLF is funded by the Federal Housing and Urban Development Department and the Department of Commerce.
Borrowers are required to meet all federal regulations, guidelines, policies, and requirements as they relate to the program.
It can supplement private financing by providing a portion of the project costs.
Applicants must create new employment opportunities, have firm financial commitments for other components of the project, and be willing to comply with all regulations, guidelines, policies, and requirements as they relate to the program.
The City of Tacoma Washington offers a revolving loan fund for businesses to provide: – Permanent working capital – Equipment acquisition – Inventory purchase – Land and/or building acquisition – Tenant improvements – Start-up cost All loan applicants must demonstrate the ability to repay the debt and provide adequate collateral.
Personal guarantees may be required.
Revolving Loan Fund programs carry fixed interest rates from 4 to 9 percent, dependent on risk.
Revolving Loan Fund programs carry a maximum term of five years, but may be amortized over a longer period.
The maximum Revolving Loan Fund loan to any one borrower is $250,000. SBA 7(a) loans may be granted for as much as $2 million.
Contact InformationTacoma Washington Business Loan
Address: 747 Market St
City: Tacoma
State: Washington
Website:
http://www.cityoftacoma.org/Page.aspx?cid=2207
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