Local Incentives Drive Business Success in Wabash County!
Grow Wabash County Revolving Loan Fund
The Grow Wabash County Revolving Loan Fund exists to help the local business community with planned projects and unforeseen situations. This program was seeded in the early 2000’s with funds from the USDA Rural Development and has funded numerous projects in Wabash County for almost 20 years. Eligible businesses include those operating in Wabash County, are current on all taxes and are credit-worthy.
- WSJ Prime as of day of closing fixed rate;
- Interest and principal shall be collected for all of the term to maturity, though interest-only payments may be collected for up to six (6) months if justified in the loan proposal;
- Terms not to exceed five (5) years;
- Collateral required to secure the loan; and
- 1% loan origination fee.
How can a business utilize these funds?
- The acquisition of land, buildings, equipment and other fixed assets;
- The construction, expansion or remodeling of buildings;
- Working capital needs;
- Buyouts by purchase of assets or stock; and
- To help offset losses faced due to the COVID-19 crisis.
How to Apply
Step 1: Complete the Grow Wabash County Revolving Loan Fund Application
Step 2: Submit Required Documents
The following forms must be completed and either emailed or mailed to Grow Wabash County at 214 South Wabash Street, Wabash, IN 46992:
Optionally, submit any documents (i.e. business plan) to accompany the application for review by the Grow Wabash County Loan committee.
Step 3: Grow Wabash County Loan Committee Review
The Grow Wabash County Loan committee will review each application and the accompanying documents before making its final determinations regarding loan awards, the preparation of loan agreements and documents, and the execution of those documents by all parties. Due to limited funding available, the committee will select businesses it feels will most benefit from this funding.
Questions or concerns regarding the Revolving Loan Fund or the application process can be directed to firstname.lastname@example.org or by calling 260-563-5258.
The Grow Wabash County Revolving Loan Fund is partially funded by a grant from the USDA-Rural Development. GWC provides equal employment opportunity to all employees and applicants without regard to race, color, religion, sex, sexual orientation, gender identity, pregnancy, national origin, ancestry, age, genetic information, disability, citizen status, veteran status, military service, marital status or any other legally protected category as established by applicable law.
The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, sex, religion, age, disability, political beliefs, sexual orientation, and marital or family status. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at (202) 720-2600 (voice and TDD). To file a complaint of discrimination write, USDA, Director, Office of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Avenue, SW, Washington, DC 20250-9410 or call (202) 720-5964 (voice or TDD). USDA is an equal opportunity provider and employer.
Category: Local Incentives
More Local Incentives