Revolving Loan Fund
The FVEDC Revolving Loan Fund Program (FVEDC-RLF)
The FVEDC is dedicated to assisting potential business operators and keeping existing business owners informed on cost-effective ways to operate their business within the Town. The FVEDC’s Board of Directors is composed of business development professionals that work to continuously develop means that will provide assistance to qualified companies that want to relocate or expand within Fuquay-Varina.
The FVEDC has a commitment to helping businesses identify financial resources to assist with capital building construction/renovations costs to purchasing equipment needed to operate your business. The FVEDC-RLF provides assistance for businesses looking to borrow funds at a low-interest rate for operating capital, machinery/equipment and new building construction/renovation. The minimum loan amount is $5,000; the maximum loan amount is $75,000.
Projects are selected on a case-by-case basis and will be evaluated on the projects potential amount of capital investment and job creation. The FVEDC Board of Directors are responsible for recommending a project for funding while also evaluating the borrower’s ability to repay loan financing.
Before submitting a FVEDC-RLF Application, please have the following items ready:
Business concept and project plan
Identified Project Scope/Budget to include project sources & Uses (committed/identified funding)
Market analysis and adequate feasibility studies
Ability to repay loan financing
Once you contact the FVEDC, the FVEDC will schedule a meeting with you to discuss the next steps in your project.
For further information please contact Jim Seymour, Executive Director of the FVEDC at (919) 753.1031 or firstname.lastname@example.org