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The objective of the Revolving Loan Fund (RLF) program is to provide small businesses with the financing in rural communities that cannot be found through other traditional lending activities. This financing will help to provide
long-term economic growth through job creation and retention, which in turn will help to alleviate long-term unemployment problems in affected areas.

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Available Funds and Eligible Areas

USDA IRP RLF

All nine counties, including Bonneville, Butte, Clark, Custer, Fremont, Jefferson, Lemhi, Madison and Teton, with the exception of the City of Idaho Falls.

EDA RLF

Eight counties, including Butte, Clark, Custer, Fremont, Jefferson, Lemhi, Madison and Teton.

Enterprise Loan Fund RLF

All nine counties, including Bonneville, Butte, Clark, Custer, Fremont, Jefferson, Lemhi, Madison and Teton.

Headwaters (HDC) RLF

Three counties, including Butte, Custer and Lemhi.

Rexburg RLF

The City of Rexburg.

Microloan RLF

All nine counties, including Bonneville, Butte, Clark, Custer, Fremont, Jefferson, Lemhi, Madison and Teton.

Terms

  • Eligible loans start at $5,000, and generally have a maximum of approximately $250,000 dollars, with the exception of the Microloan program which has a maximum of $50,000.
  • Generally, the maximum amount of the RLF loan is no more than 33% – 50% of the total eligible project costs. Minimum down payments run at between 10% – 15%. Most RLF loans require a private third party lender who usually does 50% of the project.
  • Eligible borrowers are usually small business seeking to expand or retain their employee base, and fit the SBA small business criteria of size. The USDA does allow for non-profit companies and public entities, which are ineligible in the others.
  • Eligible projects include plant acquisition, new construction, renovation or expansion, machinery, equipment and fixtures, inventory and receivables, along with some working capital.
  • All RLF loans, with the exception of Microloans, require sufficient collateral coverage for the amount of the loan, and may include any acceptable tangible business asset, as well as company and personal guarantees.