RLF is the commonly-used acronym for a Revolving Loan Fund. It refers to a pool of capital available for small businesses in need of financing for development and growth projects. In general terms, businesses apply for loans and those requests are reviewed by an independent committee, much like a bank. If approved, the loan amount is withdrawn from the Revolving Loan Fund and dispersed to the business. Every time a business makes a monthly payment, the principal repaid is put back into the fund and is made available to assist another qualified business with a loan. Money goes out . . . comes back in . . . and goes back out again . . . revolving the funds.
Does Washington County Have an RLF?
Yes, Washington County established an RLF over 10 years ago to create more prosperity for the county and its residents. Washington County’s RLF makes loans to help fast-growing businesses located anywhere in the county and businesses looking to relocate to the county. When businesses grow here, they create jobs, sell their products around the world and pay taxes. All of which benefits county residents, the business and their employees and families. The fund has grown steadily over the years, generating over $1.5 billion of economic and fiscal impact to the county.
How is EDWC Involved?
Washington County, Wisconsin contracts with EDWC (Economic Development of Washington County) to manage the RLF. EDWC’s experienced staff helps businesses, and their financial partners understand how an RLF loan can help them both. EDWC works closely to assemble just the right structure package to help make a business’ goal a reality.
EDWC has been known to loan anywhere between $100,000 – $1,000,000 with repayment schedules spanning as short as five years or as long as 25 years. Washington County’s RLF offers fixed rates and flexible collateral requirements making it a smart choice to use an RLF loan for your next project.
Learn more about the loans and incentives EDWC secures for growing businesses in or relocating to Washington County:
To discover more about the RLF and other financing options for your business, connect with one of our experts today: