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Lincoln County Loan Programs

The loan programs available in Lincoln County are outlined below with individual program highlights given.  If any of these loan programs fit your needs, please follow the link at the bottom of the page to proceed to the

Application Process. All final loan information and process steps will then be outlined for you when you meet with one of our professional loan officers.

Business Investment Fund:

For-profit and not-for-profit businesses acquiring or improving land, buildings, machinery & equipment, furniture & fixtures or in need of working capital. No refinance

• Economic Impact: 1 job/$15,000 borrowed.
• Loan Amount: $25,000-100,000 or maximum of 75% of project.
• Private Contribution: Minimum of 25% of project.
• Costs: 
  • CWCOG loan fee of 1.5% of the loan amount.
  • Application deposit of $300, non-refundable if the application is withdrawn after approval.
  • Borrower pays closing costs, which may be included in the loan request.

Rural Development Fund:

For-profit or not-for-profit businesses acquiring, remodeling or refurbishing land, building, machinery & equipment, furniture & fixtures or in need of working capital.  Refinance under limited conditions.

• Economic Impact: 1 job / $50,000 borrowed.
• Loan Amount: $25,000-250,000 or maximum of 50-75% of project.
• Private Contribution: 25-50% of project, minimum.
• Costs:
  • CWCOG loan fee of 1.5% of the loan amount.
  • Application deposit of $500, non-refundable if application withdrawn after approval.
  • Borrower pays all closing and processing costs, which may be inluced in loan request.

Revolving Loan Fund:

For-profit and not-for-profit businesses acquiring or improving land, buildings, machinery & equipment, furniture & fixtures or in need of working capital.  No refinance.

• Economic Impact: 1 job/$50,000 borrowed.
• Loan Amount: $25,000-242,000 or maximum of 50% of project.
• Private Contribution: Minimum of 50% of project.
• Costs:
  • CWCOG loan fee of 1.5% of the loan amount.
  • Application deposit of $500, credited to borrower at closing. Borrower pays all third party closing and processing costs.

Lincoln County Revolving Loan Fund:

For-profit or not-for-profit businesses ineligible for other public or private financng in need of short term operating capital.

• Loan Amount: $500 - 50,000 dependent on tier.
• Private Contribution: 0-20% depending upon tier.
• Rates:  Fixed
• Costs: Loan fee of $100-1.5% of the loan amount dependent on tier.
• Deposit: $100 -500 dependent on tier.  Borrower pays all third party closing and processing costs.

APPLICATION PROCESS

OFFICE LOCATIONS AND CONTACT INFORMATION

Beachfront Manor.pdf (50.1KB)

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