Revolving Loan Program

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, 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
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 funds
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
Eligible Projects
  • 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

Eligible Businesses
  • Business ventures - corporations, partnerships, sole proprietorships, and cooperatives
  • Local governments or public entities
  • Non-profit entities
  • Tribal authorities
Advantages of RLF
  • 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