SHOALS — The Martin County Alliance for Economic Growth has officially opened applications for its Revolving Loan Fund (RLF) Program, a community-driven financial initiative designed to help local businesses start, grow, and expand.
Aiming to foster sustainable economic development across Shoals, Loogootee, Crane, and surrounding areas, the program provides accessible capital to small business owners who might otherwise face hurdles securing traditional financing.
Key Program Details
The Revolving Loan Fund is structured to provide flexible, low-interest funding options for eligible businesses operating within Martin County.
- Loan Amounts: Available funding ranges from $5,000 to $7,500 per applicant.
- Eligible Uses: Funds can be applied toward a variety of foundational business needs, including:
- Purchasing inventory, supplies, or equipment
- Working capital and operational overhead
- Physical storefront or facility upgrades
- Marketing and expansion efforts
- The “Revolving” Model: As existing borrowers repay their principal and interest, those funds flow directly back into the program pool—creating a continuous cycle of financing to support future generations of local entrepreneurs.
“Small businesses are the economic backbone of Martin County,” said a representative from the Martin County Alliance. “This revolving fund ensures that capital stays local, supporting our homegrown entrepreneurs and strengthening our overall economic resilience.”
How to Apply
Applications are being accepted on a rolling basis, though local entrepreneurs are encouraged to apply early while funds are available.
Business owners interested in learning more about eligibility requirements, terms, or requesting an application packet can reach out to the Martin County Alliance for Economic Growth:
- Website: Contact via the official economic development portal or local county administration office.
- Next Steps: Applicants will be asked to submit a basic business overview, financial plan, and statement of intended fund usage.
