2:1 Partnership Microloan Program
IMPROVE DISASTER RECOVERY
We have found out the importance of having a plan in place when disasters hit. Our communities have endured wildfires, earthquakes and a pandemic. It is critical for businesses to develop strategies and approaches in their business practices to be resilient in these challenging times.
This loan program is not designed to compete with other lenders, but it has been designed to compliment the lending market and create bridges where gaps in funding may exisit.
USE OF FUNDS
KPEDD’s Revolving Loan Fund Program is developed to support economic development purposes including working capital, inventory acquisition, machinery, equipment, construction, installation and renovation of commercial and industrial development that intends to increase permanent jobs in our region
MINIMUM -MAXIMUM LOANAMOUNTS
Loan Amounts range from$2,500.00- $60,000 for a single borrower, with a maximum loan size not to exceed 25% of the RLF Capital Base.
Standard repayment terms are between 24-60 months; maximum is up to a 7 year term, fully amortized.