OMEGA

Local Governments Working for Development

OMEGA’s Revolving Loan Fund Program offers  fixed below market interest rate loans to businesses in conjunction with a bank. Such funds are used in the event that full financing cannot be  obtained from a bank. The Revolving Loan Fund Program cannot provide 100% funding for any project.

Loan amount is based  on job creation.  One full-time (equivalent) job must be created for each $25,000 of RLF financing.  Job creation must occur within twelve  (12) months of the loan closing. 

Funds can be used for acquisition and improvement of land and buildings, construction, machinery and equipment and limited working capital. 

Eligible business must meet the following requirements: be private-for-profit, located in the OMEGA region, must have suitable bank financing, meet all  government requirements  and must show full financing cannot be obtained from any other source. Pre-applications can be  faxed,  mailed or obtained at the OMEGA office.

Contact the OMEGA  office if you would like more information on this program. YOU MAY EMAIL THE FUND ADMINISTRATOR AT :

lravak@omegadistrict.org

            

 

 

 

REVOLVING LOAN FUND