Revolving Loan Fund

The Palo Alto County Revolving Loan Fund was established to encourage local and new businesses to expand.

These loans are provided at a reduced interest rate. The Revolving Loan Fund supports growth of community industrial parks and entices business and industry to expand in Palo Alto County.

Palo Alto County is filled with "acres of opportunities" - a safe haven to raise our families; recreational facilities with spectacular scenery, a favorable business climate, excellent health care & educational facilities and more.

The Revolving Loan Fund shall provide no more than 35% of the financing for any project up to a maximum of $50,000 in financing for new or existing businesses or industry to locate or expand in Palo Alto County. When the loan is repaid, it replenishes the fund to support other projects. The Revolving Loan Fund will be administered by the RLF Commission and the PACEDC Board of Directors.

What is a Revolving Fund?

Palo Alto County's Revolving Loan Fund shall provide no more than 35% of the financing for any project up to a maximum of $50,000 for new or existing business or industry to locate or expand in Palo Alto County. These loans are provided at a reduced interest rate.

A Revolving Loan Fund:

Supports growth of community industrial parks and/or a county industrial park

Entices business & industry to expand or locate in Palo Alto County

Provides "gap financing"

When the loan is repaid, it replenishes the fund to support other projects.

The Revolving Loan Fund can also work with state and federal grants to help business and industry and is administered by the PACEDC Board of Directors.

Objectives

Encourage existing businesses to expand

Foster entrepreneurship

Attract new business & industry to our 9 communities

Enhance the quality of life with additional tax revenue for public services

Increase rural population and local tax base

Capitalize on the strengths of our schools, medical facilities, service business and local infrastructure

A non-refundable Application Fee is required upon submission of the application.

Purpose

Aggressively encourage start-up new businesses and existing businesses to expand.

Serve as a partner for available state & federal grants

Great way for businesses to build a positive credit history.

Excellent for existing expansions on needs for technology, equipment, buildings and working capital for business start-ups.