ZUMBROTA ECONOMIC DEVELOPMENT AUTHORITY BUSINESS DEVELOPMENT LOAN FUND

Business activity is guided by the Economic Development Authority (EDA), promoting the economic, commercial, housing, and industrial development and redevelopment of

Development Initiative (BEDI) (1974– ); the EDA Revolving Loan Fund (1974– ); the Urban Development Action Grant (UDAG) program (1977–1986); Rehabilitation Tax Credits (RTC)

ADOPTED AMENDED UNUSED/ OF PRIOR YR BUDGET BUDGET YTDACTUAL UNEARNED BUDGET YTD ACTUAL. TOTAL FUND EXPENDITURES

1) The EDA Board of Directors shall have the authority to make policy recommendations for the administration of the RLF program. Periodic activity reports will be provided to the

Economic Development Authority Revolving Loan Fund Application (Revised 5-15). Name and Address

 The complete loan application is reviewed by the Finance Committee – approvals are also required by the Benton County Economic Development Committee and the Benton County

Interest Rates: The interest rate charged on the RLF portions of the participation loans will be at 60% of the Wall Street Journal published prime rate. Direct loans may charge

The Finance team will then review all information provided and make a recommendation to the EDA Board to either approve or reject the loan application.. At its regularly