The Revolving Loan Fund (RLF) program offers low-interest loans to businesses in conjunction with bank financing.
RLF funds are used in the event that full financing cannot be obtained from a bank, or to fill the gap between the bank’s participation and the borrower’s cash contribution. The RLF program cannot provide 100% financing of a project.
Eligible businesses must meet the following requirements: be private-for-profit, located in the OMEGA region, must have suitable bank financing, meet all government requirements and must show full financing cannot be obtained from any other source.
The OMEGA Regional 166 Loan Program offers low interest, fixed-rate loans to private-for-profit businesses, in conjunction with bank financing. The 166 funds are used in the event that full financing cannot be obtained from a bank, or to “fill the gap” between the bank’s participation and the borrower’s cash contribution. The 166 loan program cannot provide 100% financing of a project.
If you would like more information on these programs, please email the fund administrator, Lolly Ravak (firstname.lastname@example.org)
Our Community Development Specialists work one-on-one to assist individuals, local officials, and non-profit organizations with the preparation of grant proposals as well as providing grant counseling. Counseling can assist the grant writer, grant writing teams, advisory boards and others with answers to questions relative to grants and funding sources, grant applications, drafts and final grant formats.