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SEDA Council of Governments > SEDA-COG Finance > Clinton County Revolving Loan Fund
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 Clinton County Revolving Loan Fund

Eligible Applicants

Any for-profit business or non-profit company located in Clinton County.

 

Eligible Use

Land acquisition, acquisition of existing building, machinery & equipment, working capital, and certain soft costs.

 

Loan Amount

Up to $250,000 ($400,000 in certain cases) or 50% of the total eligible project cost, whichever is less.

 

Interest Rate

The rate is 3% fixed for the life of the loan.  Please note that rates are subject to change at the discretion of the Clinton County Loan Administration Board.

 

Term

Three (3) years for working capital; up to 10 years for machinery & equipment; up to 15 years for real estate.

 

Equity Requirement

For existing businesses (more than two years of operations), borrower must provide a minimum of 10% of the project cost.  For start-ups or changes in ownership, borrower may be required to provide 15% of the project cost.  The CCRLF Loan Administration Board, may, in rare circumstances and at its discretion, approve equity participation if the firm has a positive net worth equal to at least 10% of the proposed project.

 

Job Criteria

One job to be created or in some cases retained for every $25,000 of Clinton County funds in the project within three years of disbursement.

 

Fees
The CCRLF charges an up-front, non-refundable application fee of 1% of the requested loan amount.

If you feel that you meet these requirements, and your business is located (or will be locating) in Clinton County, Pennsylvania and are interested in exploring how this loan program can assist you, please fill out this form, and we will get back to you as soon as we can. You can also contact us through e-mail, although for serious inquiries, please complete the form.