LOAN OPTIONS FOR GENERAL BUSINESS, EQUIPMENT, AND REAL ESTATE
The Recovery RLF provides gap and primary financing to private borrowers including start-up businesses in the City of South Bend impacted by COVID-19.
Our loans carry a low interest rate and flexible terms of repayment to support the recovery of impeded business operations. The funds are loaned up to 20 years for real estate, 10 years for equipment, and 3 years for working capital. Loans can range from $50,000 to $1.5 million.
YOU MAY USE RLF FUNDS FOR…
The Recovery RLF provides funding for working capital, equipment purchases, and real estate acquisitions. Funds can be used for…
- General business needs
- IT equipment
- Industrial machinery
- Logistical equipment
- Research and development
- Real estate
- Building renovations and extensions
- And more…
YOU MAY NOT USE RLF FUNDS FOR…
RLF capital is ineligible for use in…
- Refinancing existing debt
- Subsidizing an existing loans interest payment
- Investing in interest-bearing accounts (the stock market)
- Acquiring an equity position in a private business
- The tobacco, alcohol, and gambling industries
Contact the City of South Bend’s Department of Community Investment to learn more about eligible ways in which to spend RLF funds.
Department of Community Investment
227 West Jefferson Blvd.
Suite 1400 S
South Bend, Indiana 46601