Republic County Development Association

Loan amount available:

$35,000 per job being created/retained up to two-thirds of project cost; minimum of $5,000 (subject to availability of funds)

Interest rate:

Prime – 3.5% (floor of 4%)

Term:

3-7 years for working capital, inventory, equipment, 15 years for real estate

Primary eligibility requirements:

• Bank request for assistance
• Creation or retention of jobs
• Program available in Republic County

Special features/requirements:

• First year repayment is interest only payments.
• 51% of jobs created/retained must be to the benefit of low- to-moderate income families through survey.
• Construction projects require adherence to Davis-Bacon Wage Rates and ADA handicapped accessibility.

Loan amount available:

$75,000 per applicant business and a $2,500 minimum.

Interest rate:

Prime – 3.5% (floor of 4%)

Term:

Real Estate: Maximum of 15 years or based on ability to repay.

Working Capital, equipment and furniture loans: Maximum of 6 years or based on the ability to repay. Longer terms of amortization may be considered for specialty equipment.

Primary eligibility requirements:

• Bank request for assistance
• Program available in Republic County

Special features/requirements:

• First year repayment is interest only payments.
• Businesses can receive up to 150% of the private and/or public capital supporting the project as an E*Community loan. For example, if a local revolving loan fund or bank contributes $20,000 to a business, the business could receive up to a $30,000 loan from E*Community.
• Matching funds are preferred at the ratio of Two Dollars ($2.00) of loan amount to One Dollar ($1.00) of personal investment.