The Luce County EDC maintains a revolving loan fund, (RLF) to support businesses in Luce County. The purpose of the RLF is to create and maintain jobs, stimulate growth of new business and industry, stimulate expansion of existing businesses and to help startups. Funds can be used for a variety of needs including but not limited to; working capital, inventory, gap financing, startup costs, expansion and more.
The process consists of an application, personal financial statement and last three years of income taxes. Startups will require personal income tax returns for the last three years for all owners that have more than a 20% interest in the business. There is a onetime nonrefundable application fee of $100.
Each loan is assessed and processed on a case by case basis. Each loan is given personal attention to ensure the needs of your business are being met as well as the predetermined guidelines for fund use.
Forms can be found below or they can be obtained from our office and/or by email. If you have any question about the RLF process and procedures, please call our office at 906-293-5982.