The November Lunch and Learn for the Emery County Business Chamber will be held on Nov. 18 at noon at the John Wesley Powell Museum in Green River. Ray’s Tavern will cater the event. Todd Thorne from the Southeastern Utah Association of Governments will speak at the event.
Todd Thorne graduated from Weber State University in May of 2008. After graduating he started working for Six County Association of Governments in Richfield. He started working for SEUALG in March 2015 as the RLF and CDBG Program manager. He lives in Price with his wife and two children.
His presentation will focus on the revolving loan fund. There is money available to help new and existing business with GAP financing in Carbon, Emery, Grand, San Juan, and the Navajo Reservation.
Businesses eligible for RLF funding include: Industrial, Retail, Service, Manufacturing, Commercial and Professional. Types of financing include: GAP Financing
Primary Financing sources are required; 60 percent first mortgage from private sector lender; 10 percent Business owner investment; 30 percent; Business Loan Fund GAP financing Maximum loan amount is $100,000; 7 year amortization or 10 year with 7 year call on real estate.
Seed Capital Financing-Loans up to $10,000 Terms up to 5 years Competitive interest rates No other lender required RATES-RULES-COST Fixed Interest Rates
Interest Rates will range from 4 percent to 12 percent and will be determined by the amount of collateral, and all other loan terms.
The loans are available year round. Eligible Borrowers include: Owner-user businesses, For-profit organizations, Non-profit entities
Job Creation Criteria: Emphasis on job-creating projects One job created for every $15,000 of RLF funds loaned Borrower Fees and Costs $75 application fee 1.5 percent loan origination fee Credit report and closing costs.
Come to the Lunch and Learn for more information on what’s available for local businesses to help them grow.
Call Jaime Anderson to register for the Lunch and Learn at 435-590-8175 or email info@emerycountychamber.org
Cost is $12 per person.
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