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The ARPC Revolving Loan Fund (RLF), financed by the U.S. Department of Commerce’s Economic Development
Administration (EDA), provides a source of capital for businesses in the Apalachee Region, designed to fill capital gaps and
promote job creation. With lower interest rates and relatively more convenient terms than conventional lenders, the RLF serves
the local economic community by enhancing financing opportunities for businesses interested in starting or expanding in the
region. The average size of an RLF loan ranges from $5,000 to $100,000, with no individual loan exceeding $250,000. Working
capital loans are made for periods not exceeding five years, and fixed asset loans are made for periods not exceeding ten
years. Eligible borrowers must create or retain full-time jobs within the region. Potential borrowers must have received at
least two letters or other documentation of denial for either partial or full funding from a traditional lending institution
and also be located in the Apalachee Region (excluding Leon County).
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The Council approved the establishment of an in-house Small Business Revolving Loan Fund on
October 28, 1999. This fund is targeted toward small business owners interested in expansion and future small business owners
interested in start-up capital. Potential borrowers are entrepreneurs that have been unsuccessful in securing financing from
conventional lending institutions. The loan packages offered are in the $5,000 to $25,000 range. To date, the Council has
made nine loans totaling $213,000 creating 18 new jobs and retaining eight existing jobs.
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