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 $50,000 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 new jobs annually for persons at low- to moderate-income levels.
Jobs Created and Loans Issued in FY 2016 (9/1/16 – 8/31/17)
To view information regarding the jobs created/retained and the loans made via the Business Revolving Loan Fund in CDBG FY 2016, click here: RLF Job Creation in FY 2016
For more information about small business loans through the RLF, please contact the Bowling Green Economic Development office 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.