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Grant Application

Alleghany Highlands Economic Development Corporation

Revolving Loan Fund

Thank you for your interest in the Alleghany Highlands Economic Development Corporation Revolving Loan Fund (AHEDC/RLF).

The loan fund has been established by a grant from the USDA Rural Development and is designed to assist small businesses in the Alleghany Highlands.  The fund is administered by a committee compiled of members of the AHEDC and area business owners.

The recipients of an AHEDC loan will seek and receive technical assistance from the AHEDC prior to submission of a loan application.  Upon recommendation for review by the AHEDC, the loan application will be reviewed by the loan committee. As a condition of approved loan application, the business owner will agree to continue to meet with the AHEDC for a 12 month period to review the financials of the business.

You may apply for a loan not to exceed $10,000, for a maximum Term of 3 years.  The interest rate is Prime less .25%.  Repayment is made monthly based on a straight amortization schedule.

Revolving-Loan-Fund Application