NewsPierce County Revolving Loan Fund - Affordable business financing when the bank loan does not cover the need. « Back to Search Results
As a business owner or entrepreneur seeking capital to start, purchase, or grow your business venture, your financing request to your conventional lender falls short of meeting your capital needs. Your lender is willing to provide for a portion of those needs but not the full amount. You can demonstrate through a well-documented and supported business plan/proposal your needs and the ability to repay the proposed loan. Where do you turn to fill the gap? For Pierce County based ventures the Pierce County Revolving loan fund may be a financing tool to enable you to meet your needs.
The Pierce County Revolving Loan Fund was established to meet this type of need that will foster the creation and retention of jobs, targeting the employment of low and moderate income persons. This well capitalized loan fund administered by the Mississippi River Regional Planning Commission provides loans for working capital for up to 7 years, machinery and equipment up to 10 years, and real estate loans a 12 year term with 20 year amortization. Interest rates are competitive and funds can be provided for up to 50% of the project cost. Fifty-one percent of the jobs created must be held or made available to low to moderate income persons.
The Mississippi River Regional Planning Commission also administers a Business Capital Revolving loan fund for similar purposes with similar conditions. For information on the Business Capital RLF, please contact email@example.com or 608-785-9396.
Business ventures within the communities of River Falls and Spring Valley have access to another set of funds from the Regional Business Fund for revolving loan funds, building façade improvements and microloans. For additional information regarding these funds, please call 715-836-2918 or email them at firstname.lastname@example.org.
For additional information, an application, and assistance please contact Pierce County Economic Development Corporation at 715-425-3881 or email@example.com.