Revolving Loan Fund

 

The Revolving Loan Fund is operated/approved by the Parke County Redevelopment Commission (PCRC).  Their mission is to promote economic and community development for sustained and continued growth through increasing investment in our community.  The PCRC strives toward business retention and expansion, new business attraction, capitalizing on technology and innovation while promoting entrepreneurship and education, and the promotion of community resources while preserving and improving infrastructure to create more, better-paying jobs; thereby improving the quality of life for all Parke County residents.  The Revolving Loan Fund has proven to be a successful tool in fulfilling the PCRC mission.  This program has given many individuals the opportunity to expand or retain their current business at a more affordable rate with longer terms of repayment than traditional bank financing.  The program has also allowed individuals to realize the dream of starting a new business in Parke County.

  • Eligible Applicants and Minimum Criteria:

    • Business must be located in Parke County.

    • Total employment shall not exceed 50 people.

    • Business will sign a statement maintaining a drug-free workplace.

    • Individual must demonstrate ability to repay the loan and maintain a good credit history.

    • Program is intended for those that do not qualify for a commercial loan. You may be asked to submit proof.

  • Loans may be used for:

    • Working capital

    • Inventory

    • Fixed assets

    • Marketing of new products and/or services

  • Loans may not be used for new construction of buildings or additions

  • Applicants will not be denied based on race, color, national origin, religion, age, sex or handicap

  • A one-time Administrative Fee of $50.00 will be made to Partnership Parke County if the loan is approved by the Parke County Redevelopment Commission

 

For more information on the Revolving Loan Fund...

Contact Us.