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Application Review
The following factors will be considered in the selection process: Nature of the project Job creation projections Long-term improvements in economic development Diversifying the rural economy or alleviating under-employment Supplemental funds Economic conditions and job creation Unemployment rates Per capita…
Application Filing Procedures
Applications may be filed on any official workday at any Rural Development State Office. With the exception of applications to fund feasibility studies, a simultaneous filing must also be sent to the State single point of contact for State and…
Policy
Promote projects that will result in a sustainable increase in the productivity of economic resources in rural areas and thereby lead to a higher level of income for rural citizens. RUS borrowers promote economic development in rural areas and job…
Terms of Zero-Interest Loan Repayment
The signed promissory note covering the repayment of the zero-interest loans between RBS and the RUS borrower establishing when repayments begin. Repayment terms on a loan to the RUS borrower are based on the nature of the project. Ordinarily, the…
Ineligible Purposes
Any project in which any director, officer, manager, stockholder, or relative thereof, who has a significant ownership interest, or who would, in the judgment of the RBS Administrator, present a potential for or appearance of a conflict of interest. Costs…
Eligible Purposes
To promote rural economic development and/or job creation projects including but not limited to: Project feasibility studies Start-up costs Incubator projects Other reasonable expenses
Loan Guidelines
Maximum Loan — $100,000.00 Minimum Loan — $10,000.00 Application Fee — $100.00 Job Creation Rate — 1 per $10,000.00 Maximum Term — 10 years Rates — Fixed
Ineligible Purposes
Refinancing existing debt or payments to business owners or partners Activities for investment purposes not directly related to job creation General improvement loans for normal replacement needs of business and unrelated to job creation Agriculture production costs (i.e. cultivation, production,…
To Apply for RLF Loan
Contact Michael White at (850) 265-3631 for pre-application materials, including: Project description Project impact Business feasibility Preliminary market data and market strategy Preliminary financial feasibility Identify management team Preliminary timeline schedule Management track record (including resumes) Source and use of…
Eligible Activities
Acquistion or construction of commercial and industrial buildings and structures Purchase of capitalized machinery and equipment with a useful life of 5 years or more Acquisition of real property for economic development Rehabilitation of deteriorated retail, commercial, and industrial buildings