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Regional
Revolving
Loan Fund
The Regional Revolving Loan Fund serves Rockingham
County. The Revolving Loan Fund guidelines allow for expansion
and/or relocation loans for businesses that are creating or
retaining jobs in the region. Loans are generally approved for Real
Estate Acquisition, Machinery and Equipment purchase, Construction
of new sites and Project Gap Financing. Other uses may qualify on an
individual basis.
Mission:
Regional Loan Fund serves 37 towns of Rockingham County
Priority shall be given to those projects creating permanent, higher
skilled, higher paying jobs for low to moderate income persons
Program targets applicants that are commercial enterprises where no
more than 25% of the Business gross receipts are derived from "over
the counter" or "walk in" cash sales of products and services at the
project site
Maximum loan amounts generally do not exceed $200,000 unless
special REDC Board of Directors' approval is given
Completed RLF application and signed release for credit report
retrieval must be filled out by applicant (see button below)
FUNDS CAN BE
USED FOR:
Real
estate acquisition
Relocation costs
Construction
Machinery and Equipment Financing
Certain Leasehold Improvements
FEE SCHEDULE:
Application fee of $250.00
Loan origination fee may apply
Legal fees at closing
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Intermediary
Relending Program
(Funded by the USDA/Rural Development )
The Intermediary Re-Lending Program (IRP) brings an additional
source of capital to the REDCs lending portfolio. The goal of this
program is to provide financing in rural areas for business growth,
expansion, and relocation, where jobs are being created. Rural
Development is an Equal Opportunity Lender, Provider, and Employer.
Complaints of discrimination should be sent to USDA, Director,
Office of Civil Rights, Washington, D.C. 20250-9410.
Mission:
IRP program serves rural
communities in Rockingham County
Priority shall be given to those projects creating permanent, higher
skilled, higher paying jobs for low to moderate income persons
Additionally, priority will be given to projects
that retain existing jobs.
Maximum loan amounts: $125,000
Completed IRP application and signed release for credit report
retrieval must be filled out by applicant (see button below)
FUNDS CAN BE
USED FOR:
Real
estate acquisition
Relocation costs
Construction
Machinery and Equipment Financing
Certain Leasehold Improvements
Working Capital
GAP Financing
FEE SCHEDULE:
Application fee of $250.00
Loan origination fee
may apply
Legal fees at closing
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