The City’s Revolving Loan Fund (RLF) provides loans to businesses for start-ups and expansions which result in more jobs for low- and moderate-income persons. The RLF is used to supplement private funding for businesses. Recipients of the funds are required to generate a FTE job for a low- or-moderate income person for each $35,000 loaned. The program helps to reduce the incidence of poverty in the City by supporting job growth. There are special qualifications for loans to businesses in the Downtown Special Improvement District. The source of funds for these loans is the City of Bowling Green’s CDBG entitlement grant funds.
The interest rate on the RLF loans is 2/3 of the published Prime Rate, with a 5% (five percent) default rate. Loan terms are 3-5 years.
For information about RLF loans, please contact the City at 419-354-6203 or cd@bgohio.org.
Unlawful Discrimination Prohibited
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.