Economic Development

Chapman Revolving Loan Fund (CRLF)

The Chapman RLF is primarily for public entities (IDA, IDC, Cities, nonprofit 501 (c) 3's) in a nine-county area and was established in 1995 with initial funding from a HUD grant for $1.4 million. This fund has the following loan terms:  

• Minimum Loan Amount- $35,000

• Maximum Loan Amount- $250,000

• Loan Term- 5- 20 years

• Rate – 3% fixed for the life of the loan

• Collateral- Assignment of Sales Tax Revenue

• Equity Injection- 20%

• Purpose – inventory, working capital, equipment and real estate

• Job/loan ratio- 1/$35,000