Revolving Loan Fund
The CRA's Revolving Loan Fund (RLF) is used to assist businesses and developers by providing low-interest loans for business start-ups, business expansion, building rehabilitation, and other designated uses. Most often the CRA will participate with partner financial institutions to buy down the borrowers' interest rate by blending the RLF low-interest loan with the bank rate loan. RLF rates range from 0% to 5%.
The Revolving Loan Fund was established in 2001 and is designed to assist businesses and developers by providing affordable loans for business start-ups, business expansion, building rehabilitation, and other designated uses. Most often the CRA will participate with partner financial institutions to buy down the borrowers' interest rate by blending the RLF low-interest loan with the bank rate loan. RLF rates range from 0% to 5%. The CRA has assisted over 50 businesses through the RLF Program adding jobs, increasing valuation and sales tax revenue. The RLF Program has a loan portfolio of over $1,500,000.