Friday, November 30, 2012

Loans For New Small Businesses

Loans For Rural Area Business

LABELLE, FL. -- The Revolving Loan Fund provides loans to new and existing small businesses. A small business is an owner and operator of a business with ten or fewer full-time employees for this program. Loans of $50,000 or less are available to startup and growing small businesses, including agricultural producers that meet the definition of a microenterprise. 

Funding of businesses or small farmers that may not qualify for traditional loans, as well as funding for entrepreneurs with creative and innovative ideas, are prioritized.

As a part of the program, borrowers can also apply for training and technical assistance to boost their development and ongoing success.

Who can apply:
• Individual citizens or individuals who have been legally admitted to the U.S.,
• Those located in a rural area defined as an area of a State not in a city or town that has a population of more than 50,000 inhabitants in the contiguous and adjacent urbanized area.
• A microentrepreneur, or microenterprise as defined is a business entity with not more than 10 full-time equivalent employees that is in need of $50,000 or less in business capital and/or in need of business based technical assistance and training.

What is eligible:
Working capital
Purchase of furniture, fixtures, supplies, inventory or equipment
Debt refinancing
Business acquisitions
Purchase or lease of real estate that is already improved and will be used for the location of the subject business only (construction of any type is strictly prohibited)

How to apply:
To apply for funding, request form:

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