The Regional Revolving Loan Fund provides affordable financial assistance to individuals and businesses that lack the initial capital required to expand or own a business.  It is the goal of the Foundation to assist with job creation and retention in the region.

In an effort to provide a loan program that compliments, not duplicates, other programs offered throughout the State, the South Eastern Development Foundation established guidelines to fill the gap in the small business financing market. The Foundation works in conjunction with other lending institutions to complete funding packages and reduce the amount of risk associated with small business lending.

The Foundation will fund the following types of small business activities:

• Land
• Buildings
• Permanent Fixtures
• Equipment
• Working Capital

Lending activities will be amortized according to the following schedule with a five-year balloon:

• Land - 20 years
• Buildings - 20 years
• Permanent Fixtures - 20 years
• Equipment/Machinery - 15 years (or the life of the equipment, whichever is less)
• Working Capital – 7 years

Lending Parameters:

• Minimum loan amount:  $20,000
• Maximum loan amount:  $150,000
• All loans must be made in conjunction with another lending partner
• Loans must be made on a parity basis
• 1.5% loan origination fee

Interest Rate

• 4.75% to 8% depending on the risk and location of the project
• Fixed rate for life of loan

Primary consideration for lending will be given to the candidates that demonstrate the following factors:

• Applicants business must be a for-profit organization.
• The proposed business venture is located within the South Eastern Development Foundation's service area.
• The proposed project provides opportunities for residents that are unemployed and/or underemployed, minorities, low-income, and socially or economically disadvantaged.
• Credit is not otherwise available on ample terms to complete the project.
• The level of additional funding sources of equity investment committed to the proposed project is adequate.
• The amount of private participation involved with the project meets or exceeds the Foundation's requirements.
• The potential project would not be able to proceed and/or be implemented without the assistance of the revolving loan fund program.

In accordance with Federal Law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating on the basis of race, color, national origin, age, disability, religion, sex, and familial status.  (Not all prohibited bases apply to all programs).

To File a complaint of discrimination, write USDA, Director, Office of Civil Rights, 1400 Independence Ave., S.W., Washington, D.C. 20250-9410, or call (800) 795-3272 (voice), or (202) 720-5964 (TDD)

This institution is an equal opportunity provider, and employer.