Small Cities Community Development Block Grant ED Program. The program provides low interest loans to businesses to promote job creation and job retention. A local government must sponsor the business' application. Level of funding depends on the number and quality of jobs to be created and or retained. IRB's are a means of financing the construction of equipping manufacturing plants and limited number of non-manufacturing facilities.
Municipalities support industrial development through the sale of federal tax-free bonds.
Land, building and equipment expenditures are eligible for long term, fixed rates, and below rate market rates. A key advantage of this program is a reduction of the down payment typically required of the business, allowing for the preservation of cash for working capital or other purposes. The business must have a sponsor. Other programs are available for inventory and working capital needs. We would welcome the opportunity to discuss capital needs, cash flow, and the tax situation so that the best possible capital structure can be created for long-term profitability and return on investment.