CEDA launches new program for business development
The Clearwater Economic Development
Association (CEDA) has launched a new microloan program designed to
support storefront improvements and community revitalization. The Revitalization Investment for Small Enterprises (RISE) program features a straightforward application process, below-market interest rates, and an owner match requirement. RISE is intended to help businesses improve the appearance, functionality, and safety of their properties while contributing to commercial district enhancement. Eligible applicants include small businesses and nonprofits that own or rent buildings within Clearwater, Latah, Lewis, Idaho, and Nez Perce counties. RISE project examples include signage, windows and doors, paint and siding, masonry, lighting, landscaping, interior storefront improvements, security upgrades and design services. The loan range is $2,000 to $20,000, repaid between two and five years, with an interest rate two percentage points below the prime rate. Borrowers are required to provide cash or in-kind match. This program’s dual purpose is to help small businesses revitalize their appearance to attract customers and improve engagement. CEDA also seeks to strengthen community vitality and civic pride throughout the cities of north central Idaho with this program For more information and application materials visit www.clearwater-eda.org and contact Randy Lybyer, Business Finance Specialist, rlybyer@clearwater-eda.org, or call 208-746-0015.
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