South Bend Revolving Loan Fund
- What is Industrial Revolving Loan?
- Where is the Industrial Revolving Loan provided?
- Who is Eligible
- How do I find more information on Industrial Revolving Loans?
The Revolving Loan Fund offers commercial loans at a fixed rate which are generally below market rates.
The Revolving Loan Fund seeks to revitalize the landscape of industry and opportunity in South Bend. The City thrives by attracting innovation, entrepreneurship, and employment opportunities. To that end, the Fund exists to vitalize growth and expansion for new and existing businesses in South Bend.
What is Industrial Revolving Loan?
The Revolving Loan Fund provides gap and primary financing to private borrowers and start-up businesses in the City of South Bend. It works for your business to equalize the playing field and offer an enhanced return on investment financing.
Our loans often carry a better interest rate and term of repayment than conventional lenders will offer. RLF loan terms are flexible - up to 20 years for real estate, 10-years for equipment, and 3-years for working capital. Loans range from 100,000 to $1.5 million, subject to fluctuation.
Where is the Industrial Revolving Loan provided?
The Industrial Revolving Loan Fund (IRF) program works with companies in the City of South Bend. The program can be used to finance the following activities:
- General Business Needs
- IT Equipment
- Industrial Machinery
- Logistical Equipment
- Research and Development
- Real Estate
- Building Renovations and Extensions
- And more.....
Who is Eligible
- The applicant is located in the City of South Bend
- Minimum capital/equity requirement
- Evidence demonstrating credit is not otherwise available
- Jobs creation and retention
How do I find more information on Industrial Revolving Loans?
For More Information on Industrial Revolving Loans: Contact the Department of Community Investment - Business Development at 574-235-5838