The Greater Egypt Regional Planning and Development Commission offers a revolving loan fund that bridges the financing gap between bank financing and the owner’s equity. Basic RLF are:
- 1. Not all financing to a borrower must be available from a bank; however, a bank must be a participant in the loan.
- 2. The borrower must provide a minimum of 10% cash equity injection.
- 3. The RLF cannot provide more than half of the financing of the loan.
- 4. The RLF may loan up to $150,000, but is limited to $15,000 per permanent full time job created by the project.
- 5. All legal fees related to the proposed loan incurred by the RLF will be paid by the loan applicant.
For more information regarding this program please contact:
- A.S. "IKE" Kirkikis, Executive Director
- Greater Egypt Regional Planning and Development Commission
- 608 East College Street
- P.O. Box 3160
- Carbondale, IL 62902
- Phone: 618-549-3306
- Fax: 618-549-3309
- Email: gerpdc@midwest.net
