Revolving Loan Funds

Since 1985, the Grant County Economic Growth Council has helped businesses to invest in our community.

The Grant County Economic Growth Council proudly offers two revolving funds tailored for small business development: USDA-Supported Revolving Loan Fund, which provides Grant County entrepreneurs and small businesses up to $30,000 in financial support, and the City of Marion Revolving Loan Fund, which provides Marion entrepreneurs and small businesses up to $50,000 in financial support.

USDA-Supported Revolving Loan Fund

USDA-Supported Revolving Loan Fund program, which provides alternative financing options to local entrepreneurs in Grant County. Supported by a USDA Rural Business Enterprise Grant, our Revolving Loan Fund provides local entrepreneurs and small businesses up to $30,000 in financial support for land acquisitions, renovations, building and equipment purchases, and more.

This Revolving Loan Fund can be used for:

  • Land acquisition/improvements

  • Building construction

  • Building acquisition/improvements

  • Renovations/restorations

  • Purchase of equipment with life of 10 years or more

To be eligible for this Revolving Loan Fund, your business must:

  • Be located in the State of Indiana

  • Be a for-profit corporation, partnership, or proprietorship

  • Create and/or retain jobs in Indiana

  • Have fewer than 50 employees

City of Marion Revolving Loan Fund

The City of Marion, in partnership with the Grant County Economic Growth Council, offers a Revolving Loan Fund for small businesses within the city limits. Loans of up to $50,000 are available at a 1% annual rate, contingent on collateral and a personal guarantee covering at least 80% of beneficial ownership. Administrative costs and fees are the responsibility of the borrower and may be deducted from the loan proceeds.

To be eligible for this Revolving Loan Fund, your business must:

  • Existing or start-up businesses located within the Corporate Limits of the City of Marion, Indiana

  • For-profit corporation, partnership or proprietorship

  • Businesses creating and/or retaining jobs within the Corporate Limits of the City of Marion. Value of the loan will be based on $10,000.00 per job created and/or retained

  • Current on applicable taxes

This Revolving Loan Fund can be used for:

  • Land acquisition and improvements

  • Construction of buildings

  • Purchase of existing building and improvements

  • Renovation and restoration

  • Purchase of equipment