Revolving Loan Fund
Get More Working Capital
Most businesses have finite resources, like people, time, information, and capital. Moreover, available resources always need to be planned, allocated, and used for ways that either sustain or spur longer-term growth. This can be challenging when urgent needs or opportunities arise and, as the business leader, you simply need to move without exploring every option. This is one of many reasons KEDCO’s Revolving Loan Fund (RLF) exists.
Our RLF helps your business:
- Acquire land, building, equipment, or other fixed assets
- Build, expand, or remodel a building
- Purchase equipment or machinery
- Research or develop new products and/or processes
- Buy out or purchase business assets
Like most business agreements, we need to ensure you’re a fit. To do this, your business must:
- Be located in Kosciusko County or be expanding by locating a facility in the county to apply for a loan
- Have 25 employees or fewer with annual gross revenue of $2 million or less
- A complete KEDCO credit application along with required paperwork must be returned for consideration
- Maintain or create new jobs
- Create a working relationship with our Entrepreneur Navigator and have a completed business plan and approval by our RLF Subcommittee
If this sounds like your business, then please complete the KEDCO credit application and we’ll go from there. This is just one way we convene, build, and show our economic growth resources.
Loan Options Include the Following:
Option 1
Early Stage and Microloan
- Up to $40,000 (in increments of up to $10,000) at prime + 1%
- 12- to 24-month term
- Coordinate and endorse with existing mircogrant programs
- For launch and working capital
- Requires personal guarantee
Option 2
Small Business
- Up to $50,000 at prime + 1%
- 1- to 5-year term
- Priority given to Early Stage & Microloan Fund recipients with successful repayment
- For working capital, equipment, building improvements, and A/R for production expansion
- Matching Kosciusko Chamber WCDC loans
- Requires 5% borrower participation, personal guarantee, and/or collateral
Option 3
Growth
- Up to $100,000 at prime
- Up to 10-year term
- Priority given to Early Stage & Microloan and Small Business Fund and WCDC loan recipients with successful repayment
- For working capital, equipment, building improvements, and A/R for production expansion
- Matching Kosciusko Chamber WCDC loans
- Requires 5% borrower participation, personal guarantee, and/or collateral
Credit Application
CONFIDENTIALITY
It is understood that in the performance of their duties, the Kosciusko Economic Development Corporation (KEDCO) agrees to restrict its use of information, database access, financial data, and donor information in support of its Investors. KEDCO further agrees to return to Investors upon completion of their duties any, and all documents belonging to Investors.
