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