The Revolving Loan
Fund program (RLF) is designed to provide an affordable
gap-financing alternative to the expansion and retention
of existing businesses and the establishment of new
businesses in the Griggs-Steele Empowerment Zone (GSEZ).
In deciding among applications, consideration is given
to how well the project addresses the GSEZ’s goals
and provides opportunities within the GSEZ.
In deciding among applications for loan funds, primary
consideration will be given to the following factors:
- How well the proposed project addresses the stated
goals, objectives and requirements of the GSEZ strategic
plan.
- The extent to which the proposed project will provide
opportunities to residents of the Griggs-Steele Empowerment
Zone.
- The extent to which the project leverages Empowerment
Zone funds with other funding sources.
Expansion and retention of existing viable businesses,
the establishment of new businesses, value added agricultural
production, and adequate housing are of equal importance
in impacting the rural economy.
GSEZ realizes that it must have flexibility concerning
borrowers and types of financing to help achieve the
outcomes that the community and the organization desire;
however, some consistency and general criteria need
to be maintained to ensure fairness.
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