City of Bowling Green
Small Business Revolving Loan Fund (RLF)

Economic Development Loans (Revolving Loan Fund)

The City’s Revolving Loan Fund provides loans to businesses for start-ups and expansions, resulting in more jobs for low- and moderate-income persons.

The Revolving Loan Fund is used as a supplement to private funding for businesses conducting start-ups and expansions. These low-interest loans generate a job for each $20,000 loaned. This program reduces the incidence of poverty in the City by developing jobs that must be filled by low- to moderate-income persons (using Wood County Median Income Eligibility Guidelines). The loans are issued at two-thirds of the prime-lending rate on the day of closing. Security is required. It is anticipated that the program will generate four new jobs annually for persons at low- to moderate-income levels for the next five years.

                           Jobs Created in FY 2006

 

Loan Recipient	# Jobs Created	Job Title(s)	Made Available to Low/Mod Persons
Cornerstone Books & Gifts	2	Manager	100%
Anew2 The Salon & Spa	2	Professional	100%
The Groom Room	1	Professional	100%
The Nurturing Nook	1	Professional	100%
Centaur Tool & Die	2	Professional	100%
TOTAL	8		100%

 

For more information about small business loans through the RLF, please contact the Bowling Green Community Development Foundation at (419) 353-3591.

The United States Department of Housing and Urban Development prohibits unlawful discrimination in federally assisted programs based on your race, color, national origin, religion, sex, family status, or disability.