Greetings! 

  

Summit County and Cascade Capital have partnered to offer Summit County businesses access to a new Revolving Loan Fund (RLF.)  The new program is a great tool to help start-up and small businesses get an infusion of working capital. 

Currently, a pot of $500,000 is available, comprised of $250,000 from Summit County's Community Development Block Grant (CDBG) fund and $250,000 from Cascade Capital, offering businesses micro loans ($1,000 to $10,000) and revolving loads from $10,001 to $50,000, for the purchase of fixed-assets and operating capital. 

Since the new RLF combines funds from two separate agencies, different lending restrictions exists.  Typical loan terms will be for three years at a five percent interest rate.  For more information about this new program or to apply, please click here. 

If you have any questions please feel free to call Holly Miller, Senior Administrator with Summit County's Department of Community & Economic Development at 330-643-8013 or Bob Filipiak, Executive Director of Cascade Capital at 330-379-3160.

Please let us know if you where able to benefit from this new program.

 

Sincerely,