Revolving Loan Fund Is Worthwhile Tool

The revolving loan fund offered by REDC is a valuable tool and can be beneficial for small business owners in Richland County in many ways.

The RLF Loan Fund:

• Provides access to a pool of funds that the business can draw from as needed. This flexibility allows the business to manage cash flow fluctuations more effectively, ensuring that it has funds available to cover expenses during slow periods or to seize opportunities for growth.

• Provides working capital to cover day-to-day expenses such as payroll, inventory purchases, and utilities. A revolving loan provides a source of working capital that can be tapped into whenever necessary, helping the business maintain its operations smoothly.

• Provides expansion initiatives such as opening new locations, launching new product lines, or scaling up marketing efforts. This capital injection can fuel growth opportunities that would otherwise be out of reach due to limited funds.

• Provides the business access to funds when needed, allowing it to weather unforeseen challenges without disrupting operations or risking insolvency.

• Paying the RLF Loan responsibly can help a small business establish or improve its credit history.

This can be beneficial when seeking additional financing in the future, as lenders often consider a business’s creditworthiness when making lending decisions.

REDC deeply appreciates the relationships with the financial institutions that partner with us to assist the entrepreneurs and expanding businesses strive toward their dreams. Over the history of the RLF, these institutions have partnered with REDC and the 22 loans we have made: Stockman Bank, Richland Federal Credit Union, Merchant’s Bank and Yellowstone Bank.

REDC has lent out a total of $1,262,541, which has equated to $6,809,000 invested into Richland County businesses, and 164 jobs are tied to it.

Contact REDC today for more information about the Revolving Loan Fund at 406-482-4679.

 

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