REVOLVING LOAN FUND
To help fulfill our mission, Ogemaw County EDC provides fixed rate loans through a Revolving Loan Fund (RFL).
A revolving loan fund (RLF) is a gap financing measure primarily used for development and expansion of small businesses. It is a self-replenishing pool of money, utilizing interest and principal payments on old loans to issue new ones. While the majority of RLFs support local businesses, some target specific areas such as healthcare, minority business development, and environmental cleanup.
Establishing a revolving loan fund provides access to a flexible source of capital that can be used in combination with more conventional sources. Often, the RLF is a bridge between the amount the borrower can obtain on the private market and the amount needed to start or sustain a business. For example, a borrower may obtain 60 to 80 percent of project financing from other sources.
Small business development is the lifeblood of the county economy. Critical loans can help businesses add jobs or retain them. Investing in the Ogemaw EDC Revolving Loan Account is investing in our community and in jobs.
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