ARPC opens $ 1 million from Revive! Revolving Loan Fund for Businesses
TALLAHASSEE, Fla. (WCTV) – The Apalachee Regional Planning Council has announced $ 1 million in loan funding for small businesses. The Revive! Revolving credit funds are open to any type of business.
Executives say the loan is designed to help stabilize existing businesses and diversify the local economy with new start-ups.
Loans are distributed on a first come, first served basis. According to the leaflet, the use of the loan is flexible, ranging from “purchases of machinery and equipment, purchases of inventory, working capital requirements, purchases / renovations of land and buildings, leasehold improvements and Professional contractual services presented to advance the objectives of the business plan.
Businesses can receive between $ 5,000 and $ 100,000; the average loan grant is $ 25,000.
Of the million dollars, $ 800,000 comes from the federal government, while $ 200,000 comes from the local Office of Economic Vitality.
“We want businesses to know that this is a loan opportunity if you weren’t able to qualify for a conventional loan, for potentially high risk but creditworthy businesses,” said City Commissioner Jack Porter . “So to provide that gap funding; call us, we really want to work with you, we really want to reach as many people as possible.
ARPC staff are ready to work with applicants and help you through the process. You will gather the required elements and send them by email or post to the staff for application; you can find out more about the program and required material here.
If you would like to contact ARPC directly, you can contact Jana Williams, the RLF Manager, at (850) 339-4564 or [email protected]
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