Areas Served: Adams, Asotin, Ferry, Garfield, Grant, Lincoln, Pend Oreille, Stevens, Whitman, and rural Spokane counties.
Inland Northwest Economic Alliance offers a revolving loan fund for businesses in Washington State which was funded by the US Department of Agriculture/Rural Development-Intermediary Relending Program for Asotin, Ferry, Garfield, Grant, Lincoln, Pend Oreille, Stevens, Whitman, and rural Spokane counties.
– Loans from $10,000 to $250,000. – Available in Adams, Asotin, Ferry, Garfield, Grant, Lincoln, Pend Oreille, Stevens, Whitman, and rural Spokane counties.
– Used for Construction, Working Capital, Fixed Assets, and Equipment.
– Terms Up to: 5-years on Working Capital, 10-years on Equipment, 15-years on Real Estate, Maximum 20 years on fixed-asset secured.
– Net worth of at least 15% required.
– Borrower must have 15% equity in project (30% equity for restaurants, 40% for start-ups).
– Normally can fund maximum of 50% of total project cost and 75% of total project debt financing.
Maximum of 75% funding of total project for special situations.
– Normally used to match with private or commercial funds.
– Job creation/retention targets low-to-moderate income workers.
Ratio of 1 job per $25,000 borrowed.
– Limitations: Cannot be used for agriculture, gambling.
Contact InformationInland Northwest Economic Alliance
Address: PO Box 164
City: Liberty Lake
State: Washington
Website:
http://tricountyedd.com/loan-fund/
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