Clearwater Economic Development Association introduces the Idaho Small Business Revolving Loan Fund
Clearwater Economic Development Association (CEDA) is a non-profit organization that collaborates with public and private interests toward the goal of advancing regional, business, and community development.   CEDA’s Business Development Services offer multiple financing solutions for start-up and established small businesses in the region, in partnership with regional banks and credit unions. 
CEDA’s latest offering, the Idaho Small Business Revolving Loan Fund (IRLF), provides gap financing in collaboration with lenders on commercial real estate and equipment purchases.  CEDA can match the amount the primary lender finances up to $750,000.  Benefits to the borrower include low down payments, reduced fees and interest rates, and local processing, approval, and servicing.  CEDA assumes a subordinate collateral position to the primary lender on IRLF loans.  The IRLF program may be very beneficial for transactions where collateral values are lower on rural real estate and special-use equipment. 
With $3,000,000 available to finance projects in north central Idaho, CEDA is looking for opportunities to put these funds to work for the benefit of our region.  The Association has been informing regional commercial lenders and realtors about program details.  Call CEDA at 208-746-0015 or email Randy Lybyer rlybyer@clearwater-eda.orgfor further information.