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Find similar grantsSEKRPC CARES Act Revolving Loan Funds is sponsored by Southeast Kansas Regional Planning Commission (SEKRPC). The SEKRPC was awarded $520,000 from the EDA to distribute through a revolving loan fund to help with post-pandemic recovery efforts for businesses in its region.
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SEKRPC CARES Act RLF : Programs : Southeast Kansas Regional Planning Commission SEKRPC CARES Act Revolving Loan Funds The SEKRPC has been awarded $520,000. 00 from the EDA to distribute through a revolving loan fund to help with post pandemic recovery efforts.
The goal of the CARES Act RLF is to help alleviate sudden and severe economic dislocation caused by the Coronavirus (COVID-19) pandemic, to provide permanent resources to support economic resiliency, and to further the ling term economic adjustment objectives of the region served by the SEKRPC.
The CARES Act RLF funds can be used to assist businesses within the region by providing funding for working capital needs which may include, but not limited to, items such as payroll, inventory, supplies and equipment. The CARES Act RLF loans will have a maximum loan amount of 25% of the loan fund balance with requests exceeding that amount considered on a case by case basis.
The loans may be offered at as low as 0% interest rate for the life of the loan and no denial letter from an area banking institution is needed to obtain the funds. The repayment of the CARES Act RLF funds will also be considered on a case by case basis with the option of deferment of principal available if the businesses cash flow shows the need.
The repayment terms will be three to five years for working capital loans, and five to seven years for equipment loans. Loans that are for the purchase of real property and offer a first mortgage position may be made for a longer term and in terms of special cases, shorter term loans will be encouraged. Contact Zach at the SEKRPC at revolvingloanfund@sekrpc.
org for more information about the CARES Act RLF funds or to submit an application.
According to the current listing, eligibility includes: Businesses within the 12-county region served by SEKRPC impacted by the pandemic. Confirm the full requirements in the official notice before applying.
The current listing shows $520,000.00 total allocation (individual amounts not specified). Verify award ceilings, matching requirements, and allowable costs in the official notice.
SEKRPC CARES Act Revolving Loan Funds is funded by Southeast Kansas Regional Planning Commission (SEKRPC). Verify program details on the funder's official page before applying.
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