Boone Electric Cooperative
About
Keeping with its commitment to community, Boone Electric has established a revolving loan fund to provide low-interest loans to assist with local economic and community development projects. The fund will act as the funding source.
Activities like job creation and retention, diversification of the economy, improving the skills of the rural workforce, and upgrading infrastructure to improve the health, safety and/or medical care of rural residents are the goals of this loan fund.
Click here to view a summary of the RLF program. Contact us for more information and the RLF application.
Note: Application fee is $250
Minimum Loan $25,000
Maximum Loan $360,000
RLF projects must include a minimum of 50% funding from other sources, this to include Borrower equity of 10% or more in cash or fixed assets of the project/business.
Greater leveraging of outside resources will enhance the possibility of an approved RLF loan request. Documentation will be required from the Borrower that other financing has been committed before RLF load commitment is given.
Services Provided
Financial Resources and Assistance
- Loan Providers (Specialty)
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