Local Revolving Loan Fund

Local Revolving Loan Fund

FAYETTE COUNTY ECONOMIC DEVELOPMENT COMMISSION
LOCAL REVOLVING LOAN FUND (LRLF)


Purpose: The purpose of the Fayette County Economic Development (FCEDC) Local Revolving Loan Fund (LRLF) is to provide micro-financing to new and expanding businesses for which credit is not otherwise available on terms and conditions, which permit completion and/or the successful operation of proposed business activities.

Eligible Projects: Any business improvement or start-up project in Fayette County is an eligible project. Project activities which can be funded with LRLF funds include, but are not limited to: land acquisition, site preparation, building acquisition, building construction, building remodeling, machinery & equipment, furniture & fixtures, and working capital for business start-up and expansion activities.

Eligible Applicants: Applicants eligible for LRLF funds include, but are not limited to: individuals, partnerships, businesses, corporations, and non-profit organizations in Fayette County. Municipalities and county governments are not eligible applicants.

Application Procedure: Applications for the LRLF will be accepted by FCEDC on a continuous basis. The FCEDC Loan Review Committee will review completed applications within 30 days of receipt. Applicants will be formally notified of approval, contingency approval, or denial within 10 days of the review. To apply, applicants will need to submit an LRLF application to the Commission at the address listed at the top of this page.