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REVOLVING LOAN FUND
The revolving Loan Fund was established to provide seed money to promote job development and business growth and expansion within Greene County. Providing the following:
FEES: There is a $15 credit application fee plus all applicable documentation and filing fees.
- Assistance with site locations
- Customized work force training and development
- Technical assistance and tax incentives
INELIBIGLE USES: As with all loans involving government monies, certain uses are not allowed, including:
- Speculative ventures
- Adult entertainment
- Gaming operations
- Check cashing outlets or pawnshops
- Real-estate Speculation/Investor
- Funds cannot be used for paying off previous debts, or for loan consolidation
- All loans subject to final approval of the loan committee and the GCIDA Board of Directors
- Manufacturing and industrial firms, advanced technology, computer related industries, retail, personal and professional services and export services are eligible candidates.
- Applicants must be classified as a small business with fewer than 100 full-time employees.
- Eligible companies must be located in Greene County prior to loan disbursement.
- Loans are made in conjunction with private sector lending sources and must be secured at the highest position based on available assets. In addition, corporate and personal guarantees are required.
- Terms of loans include real estate repayment up to 10 years, machinery and euqipment tup to 7 years and 3 years for working capital.
- Interest rate contingent upon Loan Committee review and recommendation to the GCIDA Board of Directors.
Click here to view eligibility, loan parameters and procedures.
Click here to view the application package.
Click here to view guide as quick reference.
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