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Eligible Businesses: |
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Primarily Existing Small Businesses: Manufacturing, Wholesale, Retail, and Service Businesses located in Darke County. Start-up businesses also may be eligible. |
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Use of Funds: |
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Land, Building, Equipment, Acquisition, New Construction, and Working Capital |
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Job Creation: |
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1 Job Created/Retained for each $25,000 of RLF funds within 24 months of the project's completion. |
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Maximum Loan: |
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Up to $500,000 |
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Minimum Loan: |
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$25,000 |
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Term of Loan: |
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Based upon useful life of asset; Generally equal to or greater than the private lender; Up to 15 years for Real Estate; Up to 10 years for Equipment |
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Interest Rate: |
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Fixed rate below the market; based on the necessary and appropriate needs of the borrower |
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Bank Financing: |
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50% of Project Cost |
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Equity: |
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10% of Project Cost; Start-up businesses will generally require 20% equity |
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Collateral: |
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RLF may take a Subordinated Position on Assets Financed; Personal Guarantees from owners of more than 20% of company. |
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Fees: |
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One Time 1% Application Fee up to $750 and any out-of-pocket closing costs. |
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Contact: |
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James Hill, Darke Co. Economic Development (937)548-3250
info@darkecounty.com |
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Additional Information: |
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Download RLF Brochure (29 KB pdf file)
Download Master Industries - A Revolving Loan Success (530 KB pdf file) |
