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Planning and Zoning



Franklin County Planning and Zoning

 

 Revolving Loan Fund Information

The Revolving Loan fund (RLF) is a gap financing program for new or expanding businesses in Franklin County.

Revolving Loan fund Administration Plan
Revolving Loan fund Application

If you are a local Chamber of Commerce or financial institution that would like to schedule a presentation for your members or clients, please give us a call to discus the details.

For more information or to get copies of the brochure, please contact us at 636-583-6369 or planningandzoning@franklinmo.net

Quick Facts about the Program________________________________________

bullet The total amount available for loans is approximately $250,000.00.
bullet The dollar amount for each loan will average $35,000.00 and will generally not exceed $50,000.00 per loan account.
     Loan Accounts are available through both FEDA and CDBG.

bullet Loans will be given to new businesses or existing businesses that cannot meet all of their funding needs through the regions
    financial institutions.

bullet Loan funds can be used for equipment, fixtures, working capital, inventory, or real property.

bullet The amount of the loan will be based largely on job creation and retention, with a goal of $5,000.00 loaned per each job
     created or retained.

bullet Priority will be given to projects that:

-  Create new jobs and/or retain existing jobs
-  Re-develop blighted or vacant land and facilities
-  Aid businesses owner by minorities, women, or person who are economically disadvantaged
-  Implement new technologies and practices
-  Exhibit the potential to grow and strengthen the region's economy
-  Leverage a minimal amount of public dollars, with the goal being a ration of two (2) private dollars to every one (1) RLF dollar
-  Provide a needed product or service to the Franklin County area
-  Are located within a business area of a community with a recognized revitalization or redevelopment plan

 

bullet A non-refundable $200.00 application fee will be required at the time of application and a fee of 1.5 points will be required at
     at the time of closing.

bullet The minimum interest rate will be four (4) points below the current Wall Street Journal prime rate, but in no event may the
      interest rate be less than four (4) percent.

bullet   Loan Terms for working capital loans can be made for a five (5) year term. Fixed asset loans (machinery and equipment) can be
      repaid over a seven (7) year term. Real property loans may have a repayment schedule not to exceed ten (10) years.

bullet  A committee of five Franklin County residents reviews submitted applications to determine whether the project meets the
     general goals of the RLF program and to review the collateral and credit of the applicant. Final approval is given by the
     County Commission.

Credit Review Committee____________________________________________

Phil Rosloniec
Price, Waterhouse, Coppers (PWC)
800 Market Street, Suite 1900
Saint Louis, MO 63101

Richard Mayer
Bank of Washington
PO Box 377
Washington MO  63090

Aaron Hall
United Bank of Union
P.O. Box 500
Union, MO 63084

Greg Toelke
Bank of Franklin County
900 E. Eighth St.
Washington, MO 63090

Alan Vickers
First Community National Bank
P.O. Box 668,
Sullivan, MO 63080

 

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Franklin County Offices  400 E Locust, Union, MO. 63084    hours: M-F 8:00 AM - 4:30 PM