CALED in partnership with VEDC are now administering a Statewide Revolving Loan Fund (SRLF) through guidelines set by the U.S. Department of Commerce, Economic Development Administration. The SRLF was created to focus on job creation and retention in response to areas affected by unfavorable economic conditions driven by natural disasters, base closures, and high unemployment. Funding businesses within such areas is the preferred objective of the SRLF; however, other areas are also eligible for funding.
The secured Small Business Loans generally range between $100,000 and $500,000 and can be used for working capital, business purchases, equipment, inventory, tenant improvements, and owner-occupied commercial real estate.
For more information and the SRLF term sheet, visit CALED’s website.
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