The primary objective of the Revolving Loan Fund (“RLF”) is to increase and/or create full time, quality, year round employment opportunities, as well as stabilize existing employment opportunities in the region served by the Mt. Washington Valley Economic Council. In addition, it is an objective of the Fund to aid in the expansion of environmentally desirable light manufacturing in the region. Also, by strengthening the existing recreational and retail industries, a further objective of reducing the seasonality of employment can be achieved. To apply for a RLF please fill out this form.
A public-private partnership is a key to the success of the RLF. The RLF funds will complement funds from other sources and as such, the RLF will provide gap financing for business endeavors which otherwise might be unable to secure financing. A shortage of investment capital at a reasonable cost has previously precluded small to medium size companies from being successful without a “lender of last resort.” No loan activity is expected in financing speculative proposals.
The primary emphasis of RLF projects will be:
- To complement the region’s financial market.
- To stabilize and diversify the region’s economy for start up and expansion operations.
- To improve the rural area’s competitive position in attracting industrial prospects versus major metropolitan areas.
- To assist in the development and tenanting of industrial parks and facilities.
- To provide the region with available resources to apply for grants from public and private sources.
The RLF will be used to promote businesses located within the region served by the Mt. Washington Valley Economic Council, being the communities of Albany, Bartlett, Chatham, Conway, Eaton, Freedom, Hale’s Location, Jackson, Madison, Ossipee, Tamworth, Brownfield, and Fryeburg, Maine.