Rural Development Loan Fund

Funded by US Department of Agriculture/Rural Development-Intermediary Relending Program.

• 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.

LOAN QUICK LINKS

Revolving Loan Fund

CDBG Business Loan Fund

CDBG Micro Enterprise Loan Fund



FINANCING RESOURCES

Resources