EDA Revolving Loan Funds Print Share
EDA Revolving Loan FundsThe Economic Development Administration's Revolving Loan Fund (RLF) Program is designed to promote new lending activity in local economic development initiatives. These funds are allocated to various not-for-profit corporations throughout the state, and are reloaned as initial borrowers repay their debt. RLF projects target small business creation and development, business and job retention, and the promotion of new high-tech industries. Revolving loan funds (RLF) enhance the local capacity to invest in community-identified commercial development that creates jobs. Since 1976, when the RLF program was implemented, EDA has provided initial capital for over 480 local RLFs. These locally administered funds have made more than 7,200 loans to private businesses and have leveraged more than $1.9 billion in private capital. Upon repayment, principal and interest stay in the community for re-lending and further economic development activity. Economic Development Administration |