A revolving loan fund is a financing program used for the development and expansion of small businesses. It is a self-replenishing pool of money, utilizing interest and principal payments from current and past loans to finance new ones. These loans provide access to capital as gap financing to enable small businesses to grow and generate new employment opportunities with competitive wages and benefits.
The CWCOG Revolving Loan Fund Program for the City of Longview provides access to a flexible source of capital that can be used in combination with more conventional sources.
This long standing program was recapitalized in 2020 with funding from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This has made an additional $540,000 available for loans.
The program is operated under a plan as required by the Economic Development Administration. The current plan can be found here.
If interested, please contact us to discuss the program.