- 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
Revolving Loan Program
- 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, harvesting)
- Vehicles for general purposes or personal use
- Projects without supplemental financing
- Working capital with limited security
- Residential construction projects
- Illegal activities and/or legalized activities (e.g. gambling casinos) that, in the opinion of GCEC directors, adversely affect RLF interests
- Projects in which any director, officer, general manager, supervisor or employee of GCEC, and/or close relative, owner, stockholder, partner, or director which would create a conflict of interest
- Projects in which recipient of loan would, as a condition of loan approval, be required to purchase or lease any real property, materials, equipment, or services from GCEC, its subsidiaries, and/or affiliates
- Projects or activities that pay salaries of any employee of GCEC, its subsidiaries, and/or affiliates
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 funds
- 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
- Industrial or commercial development
- Small business expansion
- Business incubators
- Community infrastructure or facilities*
- Medical facilities*
- Training or educational facilities*
* Should provide permanent jobs in rural area
- Business ventures - corporations, partnerships, sole proprietorships, and cooperatives
- Local governments or public entities
- Non-profit entities
- Tribal authorities
- Attractive interest rate of prime or below
- Local control of funds
- Less red tape and quicker response to funding requests
- Leverages funding from local financial institutions
- Increases funds available to local businesses