South Bend Revolving Loan Fund
- What is the Revolving Business Enterprise Fund?
- Where is the Revolving Business Enterprise Fund provided?
- Who is Eligible?
- How do I find more information on Industrial Revolving Loans?
The Revolving Business Enterprise Fund is a Revolving Loan Fund that offers commercial loans at a fixed rate which is generally below the market rate.
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 encourage growth and expansion for new and existing businesses in South Bend.
What is the Revolving Business Enterprise Fund?
The Revolving Business Enterprise Fund provides gap and primary financing to private borrowers and start-up businesses in the City of South Bend. It works for your business and may help your business grow when traditional financing may not be available.
Our loans often carry a better interest rate and term of repayment than conventional lenders will offer. Our 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 Revolving Business Enterprise Fund provided?
The South Bend Revolving Loan Fund 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