Revolving Loan Fund supports communities
Business owners and community leaders take note - your project may be eligible for a loan through ACEC's revolving loan fund. Anyone may apply for a loan for any community or economic development project that benefits the rural area, such as new or expanding private business, non-profit groups and city or county governments. Loan recipients are not required to buy electricity from the Cooperative.
The Cooperative's board considers the financial need of the project, the probability of success, the project's benefit to the rural area, including number of jobs to be created or retained, and community development projects and improvements to community infrastructure.
Contact Hollee McCormick at 1-888-788-1551 for more information on loan requirements and terms.
|Eligible uses of funds include:||Ineligible uses include:|
|Land purchase||Speculation land purchases|
|Machinery and equipment||Payments to owners or equity investors|
|Fixed assets||Debt refinancing|
|Buildings||Projects lacking economic dev. potential|
Note: Per USDA rules, these funds cannot be used for agricultural projects.