Since its inception in 2000, the Revolving Loan Fund has been a lifeline for small businesses in the Illinois Valley and Josephine County. Created with the aim of providing financial support, this fund has become a driving force for entrepreneurship in the region. Thanks to the collaborative efforts of USDA-Rural Development, Josephine County, and the City of Grants Pass, the fund has grown substantially, currently standing at over $515,000.
Impressively, the Revolving Loan Fund has disbursed more than $1.8 million in loans, with over half of the amount benefiting businesses in the Illinois Valley. This incredible support has helped fuel economic growth and development in the local community.
The RLF is specifically tailored to cater to the needs of smaller businesses in the startup or expansion phase. Offering highly favorable terms and a maximum loan amount of $25,000, the IVCDO has successfully approved more than 140 loans for local businesses since its establishment. This financial boost has empowered entrepreneurs and provided them with the means to turn their dreams into reality.
Already received funding? Make your payment easily with our Client Portal:
Revolving Loan Fund Information
- Loan amount: $200 – $25,000
- Interest rate: 10%
Loan rate varies, please inquire for most updated rate. Fixed at loan origination.
- Fees: 1% of loan amount (minimum $50) + $50 admin fee
- No penalty for early repayment
- Option to report payments to credit reporting agencies
- Time to approval: 4-6 weeks
Each loan is approved by an independent loan board. Loans must be backed by collateral.
Revolving Loan Fund Application
Supplemental Application Documents
Our partners at the RCC Small Business Development Center have advisors available to help with the creation of a business plan and assist with application requirements at no cost. Contact the RCC SBDC at 541-956-7494 or email email@example.com