EDC Loan

The EDC Loan is designed to promote new or expanded business development. This incentive is intended for businesses needing new equipment to help increase overall sales and sales tax revenue. The loan must be repaid monthly, including interest.

Approval from the EDC Board of Directors is required for all EDC Loans. Loan amounts over $10,000 must also receive final approval from the City Council. Funds are disbursed once a promissory note and security agreement are signed by all parties.

Please contact the EDC office for the current interest rate.

Download The Application