Business Development - Areawide Business Council
SERVICES
Areawide Business Council offers a regional Revolving Loan Fund for job creation and economic development. This service is sponsored by Planning & Development District III.
ABC’s service area includes the entire District III service area.
ELIGIBILITY
RLF assistance will finance both new and expanding for-profit businesses and public or private organizations. Projects must result in the creation or retention of jobs. Loan funds may be used for:
- Buildings
- Land
- Equipment
- Inventory
- Working capital
APPLICATION PROCEDURES
District III staff are available to meet with potential applicants to further explain the RLF program. Private financing must be available before applying for assistance. For more information or to make an appointment, contact Lori at District III.
Once an application has been submitted, District III staff will complete credit checks and analyze the application. This information will be passed on to a Board of Directors, who will review the application and make a loan decision. If the Board requests additional information, the application will be returned and re-evaluated when the information is available. It is the goal of the RLF to act on all completed application packages within 30 days.
ABC IS AN EQUAL OPPORTUNITY LENDER
The Areawide Business Council (ABC) Revolving Loan Fund (RLF) provides low interest financing for new and expanding businesses. Assistance is intended to:
- Promote the development of business and industrial concerns
- Create jobs
- Leverage other public and private funds
- Diversify the area’s economy
Contact:
Phone: (605) 665-0751
Fax: (605) 665-0303
Email: Lori Cowman