Lower Columbia Investment Network (LCIN)

Revolving Loan Fund

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.

The City is the loan administrator, with a Loan Administration Board making the decisions on approving, modifying, or denying applications submitted by staff. The Loan Administration Board is comprised of eight members representing various parts of the community. Members are representatives from: Longview financial institutions, Longview City Council. small businesses within the Longview city limits, Cowlitz Economic Development Council (CEDC), and one at-large position.

The current loan funds aid small businesses within the City of Longview regional boundaries. In an effort to help local businesses during this time, some temporary changes have been made to the Revolving Loan Fund Plan. These include no application or administrative fees, favorable interest rates, and up to 6-month deferment of loan principal and interest. The application can be found here.