The North Country Alliance oversees one of the country’s most successful rural revolving loan funds. Private for-profit businesses and not-for-profit organizations with 100 or fewer full time employees are eligible to apply for loans of up to the lesser amount of $225,000 or 40% of the project cost.
Funds can be borrowed for up to 5 years for working capital and up to 15 years to finance fixed assets. Interest rates are set for the life of the loan at prime less 1% with a floor of 5%.
The Regional Revolving Loan Fund will make loans to rural businesses and community development projects for the purpose of: establishing a new business, or financing the expansion of an existing businesses, or finance community development projects, or result in the creation of new employment.
To learn more about the eligible use of funds, fees, collateral requirements and contact information to apply for a North Country Revolving Loan Fund, please click here to download a PDF of current terms. (268kb PDF)