NETEDD RLF


Northeast Texas Economic Development District (NETEDD) Revolving Loan Fund

The NETEDD RLF is primarily for private industry in an eleven- county area in Northeast Texas and was established in 1987 with initial funding from an EDA grant for $1.4 million. This fund has the following loan terms:

• Minimum Loan Amount- $10,000

• Maximum Loan Amount- $300,000

• Loan Term- 5-20 years

• Rate – Prime rate fixed for the life of the loan

• Collateral- real estate, equipment, accounts, receivable

• Equity Injection – 25%

• Purpose – inventory, working capital, equipment and real estate

• Job/loan ratio- 1/$35,000