Revolving Fund Loan Program – New River Gorge Regional Development Authority

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Quick Reference

Areas Served: Raleigh, Fayette, Nicholas and Summers county

The NRGRDA operates a system structured to provide loans as part of a larger funding package.

It is the purpose of the NRGRDA RLF to partially fill the gap between the lending available from banking institutions, micro-loan programs, Rural Development, Small Business Administration and the WV Economic Development Authority and the needs of an expanding or start-up company.

The economic impact resulting from this lending program should be measurable in terms of creating or preserving jobs.

Loan Specifications: – Maximum Loan: $100,000; Minimum $25,000 (up to 50% – 70% of total project) – Equity: 10% minimum company contribution (based upon total project amount) – Eligible Loans: Start-Up, Expansion, Retention – Working Capital – Fixed Asset Loans – Interest Rate: Attractive Rate, set by Loan Review Committee – Jobs Creation/Retention Ratio: $15,000:1

Contact Information
New River Gorge Regional Development Authority
Address: 116 North Heber Street, Suite B
City: Beckley
State: West Virginia

Website: http://www.nrgrda.org

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