GRADD Revolving Loan Fund provides opportunities for small businesses

February 27, 2024 | 12:10 am

Updated February 27, 2024 | 12:10 am

Graphic by Owensboro Times

The Green River Area Development District’s Revolving Loan Fund provides low-interest direct loans people needing aid on financing land and building purchases among others.

The loan can go toward helping with equipment and inventory purchases, working capital and other business related expenses. Loans are available through GRADD for existing businesses or startup in the GRADD service area and range from $10,000 to $250,000

RLF is an initiative fo the U.S. Economic Development Administration (EDA) who provides Economic Adjustment Assistance funds to agencies like GRADD to create and sustain lending programs that offer low interest gap financing.

“The goal of the RLF is to create jobs,” GRADD Economic Development Specialist Colie Smith said. “GRADD wants to help small businesses grow and generate economic development opportunities in our cities and counties.”

GRADD has partnered with local banks to invest $11.7 million dollars in small businesses since 1980. They help them leverage bank investments of $33.7 million.

For more information and the loan application, click here or contact Smith at 270-926-4433 or here.

February 27, 2024 | 12:10 am

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