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Industrial Development Revolving Loan Fund

The IDRLF provides financing for wholesalers and manufacturers only. Financing of a project must be supplemented with conventional financing, the owner's own cash, and up to 45% financing by the Community Development Corporation.  The rates and terms of the CDC portion of the loan are quite attractive.

About IDRLF

• The CDC will not refinance existing debt.

• There is a non-refundable application fee of $50.

• Loans can be used for land, building, machinery, and equipment.

• The maximum CDC loan amount is $300,000.

• Up to $100,000 of the loan can be used for working capital.

• The CDC finances up to 45% of the project cost with a bank loan and owner's cash providing the remainder.

• The CDC can finance up to $50,000 without a match from a bank.

• Interest rates are fixed and at lower-than-conventional rates.

• The term of the loan is based on the economic life of the asset - generally 15 years for real estate, 5 to 7 years for equipment, 3 to 5 years for working capital.

• New permanent jobs must be created as a result of the project.

• The borrower must be either a wholesaler or manufacturer.

• The business must be located within Allen County, Indiana.

• The borrower must be unable to obtain conventional financing for the full project amount.

For more information on the
Industrial Development Revolving Loan Fund Program
call us at 260/427-1127 or contact us by e-mail at:
Community Development Corporation of Northeast Indiana