The ARPC Revolving Loan Fund (RLF), financed by the U.S. Department of Commerce’s Economic Development Administration (EDA), provides a source of capital for businesses in the Apalachee Region. It is designed to fill capital gaps and promote job creation.
With lower interest rates and relatively more convenient terms than conventional lenders, the RLF serves the local economic community by enhancing financing opportunities for businesses interested in starting or expanding in the Region. The average size of an RLF loan is $25,000.
Working capital loans are made for periods not exceeding five years, and fixed asset loans are made for periods not exceeding ten years. Eligible borrowers must create or retain full-time jobs within the Region. Potential borrowers must have received at least two letters or other documentation of denial for either partial or full funding from a traditional lending institution and also be located in the Apalachee Region. Leon County applicants are not eligible for the program.
For more information on the Council’s RLF Program, please contact Janice Watson at (850) 488-6211 ext. 103.