Lincoln County Loans

Business Investment Fund

For-profit and not-for-profit businesses acquiring or improving land; buildings; machinery and equipment; furniture and fixtures; or businesses in need of working capital can apply for a business investment fund loan. Refinance loans are available with this loan, under limited conditions.

• Economic Impact: 1 job / $50,000 borrowed within 3 years
• Loan Amount: $250,000 maximum, but not more than 75% of project
• Private Contribution: Minimum of 25% of project.
• Costs:
  • OCWCOG loan fee of 1.5% of the loan amount
  • Application deposit of $500, non-refundable if the application is withdrawn after approval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 and equipment; furniture and fixtures; or businesses in need of working capital can apply for a rural development fund loan. Refinance loans are available with this loan, under limited conditions.

• Economic Impact: 1 job / $50,000 borrowed
• Loan Amount: $250,000 maximum, but not more than 75% of project
• Private Contribution: 25-50% of project, minimum
• Costs:
  • OCWCOG 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  • Application deposit of $500, non-refundable if application withdrawn after approval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 included in loan request

Revolving Loan Fund

For-profit and not-for-profit businesses acquiring or improving land; buildings; machinery and equipment; furniture and fixtures; or businesses in need of working capital can apply for a revolving loan fund. No refinance loans are available through this fund.

• Economic Impact: 1 job / $50,000 borrowed
• Loan Amount: $5,000-$242,000 or maximum of 50% of project
• Private Contribution: minimum of 50% of project
• Costs:
  • OCWCOG loan fee of 2% for loans between $5,000 to $150,000; 1.5% for loans between $150,001 to $242,000
  • Application deposit of $500, credited to borrower at closing. Borrower pays all closing and processing costs, which may be included in loan request.

Lincoln County Revolving Loan Fund

For-profit or not-for-profit businesses ineligible for other public or private financing in need of short term operating capital are eligible for funding through this loan fund. Refinance requests may be eligible for funding through this loan fund. No real estate projects can be funded through this loan fund.

• Loan Amount: $2,500 - $100,000 dependent on tier
• Private Contribution: 0-10% depending upon tier
• Rates: Fixed with 5% minimum
• Costs: Loan fee of $100-1.5% of the loan amount dependent on tier.
• Deposit: $100-$500 dependent on tier. Borrower pays all closing and processing costs.

Rural Microentrepreneur Assistance Program (RMAP)

Businesses in a rural area with 10 or fewer employees may apply with a Microenterprise Development Organization.

Funds between $5,000 to $50,000 available for:

• Working capital
• Acquisition of materials, supplies, inventories
• Purchase furniture & fixtures and machinery &
equipment
• Debt refinancing
• Real estate and leasehold improvements