Revolving Loan Fund
Get More Working Capital
When you’re running a small business, you have limited resources, like people, time, information, and capital. You want to use available resources wisely and thoughtfully which requires planning, but this can be challenging when urgent needs or opportunities arise. And as a leader, you know some of those needs and opportunities require you to respond quickly. 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 locating/adding a facility in the county to apply
- Have 25 or fewer employees with annual gross revenue of $2 million or less
- Complete KEDCO credit application along with required paperwork
- Maintain or create new jobs
- Participate in Entrepreneur Navigator and have a completed business plan
- Approval by KEDCO RLF Review Committee
If this sounds like your business, then please complete the KEDCO credit application and we’ll go from there.
Loan Options Include the Following:
Option 1
Early Stage and Microloan
- Up to $40,000 (increments of up to $10,000) at prime + 1%
- 12- to 24-month term
- Coordinate and endorse with existing microgrant 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.
