Revolving Loan Fund

Lawrence County Revolving Loan Fund 2020-2025

Details of our RLF Program

Continuously improve quality of life for current and future generations; share resources to collaborate on regional promotion, communication and events.

RLF Use in Support of Economic Adjustment Needs:

From unemployment rates and per capita income data it is clear that our top priority must be to create and retain private sector jobs within the county. Secondly, we must encourage Investment entrepreneurs and new ventures. Third, do what is reasonable to assure the survival of local businesses (including disaster recover). And fourth, to improve our county’s attractiveness as the residence of choice for the area’s workers in support of the county tax base.

Our Greater Wabash Comprehensive Economic Development Strategy (CEDS) Vision statement emphasizes working together toward a growing, prosperous region. To this end, the three primary communities plus county leadership have asked the Lawrence County Industrial Development Council to facilitate common economic development goals, and to coordinate efforts. Mayors, county board designate and business leaders are members of this council. In addition, the LDIDC represents the county to the CEDS coordinating agency- Greater Wabash Regional Planning Commission, surrounding economic development organizations and the Lawrence County Chamber of Commerce

The Lawrence County Industrial Development Council administers the county RLF so that is it used to reach CEDS goals of

Contribute to a pipeline supply of employable workers

By using the program to strengthen projects related to affordable housing, dependable transportation and consumer services. We are addressing causal factors behind worker turnover and absenteeism since human factors such as lack of transportation and daycare are known to be significant problems for area employers.

Create a business expansion/retention program

By using the program to help facilitate in-county expansions and upgrades for established firms. Place emphasis on projects that help local facilities compete in the world marketplace. Prioritize retention of local jobs in addition to the creation of new jobs. Expansion & retention covers all business sectors with the exceptions of churches, government and schools.

Establish an Entrepreneurial Support System

By using the program to assist startup ventures. New businesses are the most challenging loan category for our local lenders. Their risk can be reduced by the “gap lending’ missing on this RLF.

Continuous Improvement to the regional quality of life

In our mind, this CEDS goal feeds directly into a healthy supply of employable workers. Assisting in the growth and retention of service providers, and in the development of area amenities, aligns the RLF program with teh Greater Wabash Comprehensive Economic Development Strategy.

If you would like more information on the RLF please contact our office.