Business Builders Revolving Loan Fund
Business Builders can help you turn your business vision into reality. Whether you're a potential entrepreneur or an existing business owner, we can help you create and strengthen a successful business endeavor through entrepreneurial training courses, support network, and a revolving loan fund.
The Business Builders Revolving Loan Fund (RLF) was created through a grant from the Empress (now Horseshoe) Casino for the purpose of assisting in the development of minority and women owned Hammond small businesses. The maximum amount of funding available to any applicant or business venture is $35,000.
Applicants must meet the following guidelines:
- Business must be at least 51% women or minority owned or a small business located within the City of Hammond
- Applicant must submit a written business plan
The Business Builders Program also provides assistance for loan packaging for the SBA Micro-Loan Program and the Community Express Funding Program.
Different types of loan categories:
Fixed Asset Financing - Term of 5 Years
Note: Real Estate purchases may be extended to a term of 10 years. Fixed asset financing includes, but is not limited to real estate, equipment, and furniture.
Start-Up Funding - Term of 5 Years
Note: First 6 payments can be interest-only for start-up funds. Start-up funding includes, but is not limited to fees, dues, utilities, and supplies.
Inventory or Accts Rec - Term of 90 Days
Note: Working Capital Inventory or accounts receivable working capital is a line of credit to accommodate needs.