Palo Alto Revolving Loan Fund

• Guidelines
• Application

The Palo Alto County Revolving Loan Fund (RLF) was established to encourage local and new businesses to expand.

These loans are provided at a reduced interest rate. The Revolving Loan Fund supports growth of community industrial parks and entices business and industry to expand in Palo Alto County.

Palo Alto County is filled with “acres of opportunities” – a safe haven to raise our families; recreational facilities with spectacular scenery; a favorable business climate excellent health care & educational facilities and more.

The Revolving Loan Fund will provide up to $50,000 in financing for new or existing businesses or industry to locate or expand in Palo Alto County. When the loan is repaid, it replenishes the fund to support other projects. The RLF Commission and the PACEDC Board of Directors will administer the Revolving Loan Fund.

What is a Revolving Fund?

Palo Alto County’s Revolving Loan Fund will provide up to $50,000 in financing for new or existing business or industry to locate or expand in Palo Alto County. These loans are provided at a reduced interest rate.

A Revolving Loan Fund:

• Supports growth of community industrial parks and/or a county industrial park
• Entices business & industry to expand or locate in Palo Alto County
• Provides “gap financing”

When the loan is repaid, it replenishes the fund to support other projects. The Revolving Loan Fund can also work with state and federal grants to help business and industry.

The PACEDC Board of Directors will administer the Revolving Loan Fund.

Objectives

• Encourage existing businesses to expand
• Foster entrepreneurship
• Attract new business & industry to our 9 communities
• Enhance the quality of life with additional tax revenue for public services
• Increase rural population and local tax base
• Capitalize on the strengths of our schools, medical facilities, service business and local infrastructure
• A non-refundable Application Fee is required upon submission of the application.

Purpose

• Aggressively encourage start-up new businesses and existing businesses to expand.
• Serve as a partner for available state & federal grants
• Great way for businesses to build a positive credit history.
• Excellent for existing expansions on needs for technology, equipment, buildings and working capital for business start-ups.

Revolving Loan Fund Review Committee