As part of the Community Improvement Corporation of Tipp City’s (CIC) commitment to economic development, the CIC created the Small Business Development Revolving Loan Fund (SBDRLF). The purpose of the fund is to provide assistance for expansion or development of businesses in the community. Small businesses often encounter just as many requirements for a small loan as an established industrial plant must comply with for a major manufacturing expansion project. With limited staff and few administrative resources, small businesses find it more difficult to find funding to bridge the gap when expanding their business. The locally funded Small Business Development Revolving Loan Fund (SBDRLF) is designed to meet this need.
The SBDRLF can provide loans to qualified small businesses for new capital equipment, building improvements, and other expenses associated with an expansion that creates new employment opportunities or enhance the businesses offerings. The loan amount will be typically for a term of up to ten (10) years, commensurate with the life of the assets financed and the relative amount of the loan. Loans will be secured with a form of acceptable collateral. Loans are intended to supplement, not replace available commercial lending opportunities that may not be made available to small businesses.
Questions about the program application packet can be answered by contacting Matt Spring, Community and Economic Development Director at {937) 667-6305 or via email at springm@tippcity.net.
Documents
Flyer
Guidelines
Application