service providers Fivco Area Development District - Revolving Loan Fund in Grayson KY

Fivco Area Development District - Revolving Loan Fund

Service Provider
Grayson, Kentucky 41143
(606)929-1366

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Contact Details

Organization Name Fivco Area Development District - Revolving Loan Fund
Organization Logo Fivco Area Development District - Revolving Loan Fund Company Logo by Fivco Area Development District - Revolving Loan Fund in Grayson KY
Online Profiles
Phone Number (606)929-1366
Additional Phone Number (606) 929-1390 fax
Location
32 Fivco Court
Grayson, KY 41143
United States
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About Fivco Area Development District - Revolving Loan Fund

The FIVCO Area Development District's Revolving Loan Fund Program is a locally controlled source of capital used to help finance start-up and expanding businesses whose projects will create full-time jobs. The RLF is NOT a substitute for conventional lending sources and is intended only to fill the credit gaps in existing local financial markets. As borrowers repay their loans, the payments are returned to the Revolving Loan Fund to make loans to other businesses. In this manner, the fund becomes an ongoing, or revolving, financial tool.

FIVCO Area Development District (ADD) has a variety of charges related to community/economic development, workforce development, and human services.  FIVCO ADD serves the counties of Boyd, Carter, Elliott, Greenup, and Lawrence.  Our board is made up of local elected officials from our five-county area, as well as citizen members.

Our agency’s program most directly targeted to the business community is the Revolving Loan Fund (RLF) program.  Projects must be in one of our five counties.  Participation by another financial lender may be required.  The program is designed as a gap financing measure.

In addition to the RLF program, we seek to assist start-up and existing businesses in connecting with other resources, whether those are technical or financial.