Program Specialist, Cdbg Revolving Loan Fund
CurrentThe CDBG RLF program provides business loans to eligible small businesses who will meet a National Objective, as defined by HUD, by creating job opportunities for Low to Moderate Income (LMI) individuals. As such, the use of proceeds of the loans should fall into the following categories:• Financing and/or refinancing of real property occupied by a small business where the definition of “occupied” and “small business” meet federal Small Business Administration defined standards. • Financing and/or refinancing of equipment used for business purposes.• Financing and/or refinancing of inventory and receivables.• Financing of working capital, including costs associated with activities such as engineering, sales, leasehold improvements, installation expenses, technology acquisition and enhancement activities, etc.• Financing and/or refinancing of debt used to exit or transition ownership into or out of the company.
