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CentralinaRegionalRLF

Centralina Regional Revolving Loan Fund

The Centralina Regional Revolving Loan Fund (CRRLF) was established in May 2011 through a grant from the U.S. Economic Development Administration; the CEDC in partnership with Centralina Council of Governments applied for to the Revolving Loan Fund program and received the federal award in April 2011. The CRRLF will provide "gap" financing to small business startups, expansions, or relocations that include the creation and/or retention of jobs. Centralina Council of Governments and the CEDC will work in partnership with private lenders to make loans that banks might not ordinarily make on their own.

ELIGIBLE AREAS: Anson, Cabarrus, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and Union Counties.

ELIGIBLE BORROWERS: Any legal entity, including individuals, public and private organizations/businesses. There is no size restriction on the business.

ELIGIBLE PROJECTS:

Purchase of equipment
Real estate purchase and/or improvements
Receivables and inventory
Leasehold improvements
Expansion
Repair/modernization costs
Purchase of equipment and/or machinery

APPLICATION PROCESS: Applications will be accepted from new or existing business owners in the eligible counties, on a first come first serve basis. Applications will be evaluated by a five member Loan Committee made up of CEDC board members and private industry experts.

A $50 application fee, per applicant, shall be submitted with each application to cover the cost of processing. The Loan Committee may waive or amend this fee as they see fit.

DOWNLOAD AN APPLICATION

For more information contact:

Mike Manis, Director

Loan Fund Manager

(704) 348-2720

cedc@centralina.org

Victoria Rittenhouse

Loan Officer

(704) 688-6502

cedc@centralina.org

Download a brochure