The loan must be approved by a financial institution, preferably within Macoupin County and a letter on the institution s letterhead must be submitted with the application. The terms of the loan. The rate of interest. A letter from the applicant, on company letterhead if applicable, stating the purpose of the RLF loan. Refinancing of existing debt will NOT be considered.
All loans are subject to financial feasibility.
This will be determined by the applicant s financial institution through their individual loan policies and credit requirements. Furthermore, the Macoupin County Board must approve the loan application. Macoupin County shall have the option of participation in the financing package through a linked deposited interest rate buy down. In such a loan, the linked deposited funds would have no position in the security agreement between the financial institution and the applicant. Macoupin County reserves the right to negotiate all interest rates and loan amounts.