Sawyer County Development Intermediary Relending Program
Sawyer County Development Corporation (SCDC) adminsters $200,000 in loan funds available to Sawyer County businesses. This funding comes from the USDA Rural Development Intermediary Relending Program (IRP).
Loan applications received by SCDC will be reviewed by the Revolving Loan Committee and Executive Board of Directors. SCDC will work diligently to assure that the loan application process is as least cumbersome as possible in order to streamline delivery of loan packages.
SCDC IRP funds can also be used to match traditional loans from financial institutions.
Eligible Loan Purposes
- Community development projects
- Business acquisitions, construction, conversion, enlargement, repair, moderization, or development particularly when jobs will be created or retained
- Purchase and/or development of land, easements, rights-of-way, building, facilities, leases, or materials
- Purchase of equipment, leasehold improvements, machinery or supplies
- Pollution control and abatement
- Start-up operating costs and working capital
- Feasibility studies
- Transportation services
- Hotels, motels, tourist homes, bed and breakfast establishments, convention centers
- Education institutions
Ineligible Loan Purposes
- Intermediary's own administrative expenses
- Some charitable institutions, churches, organizations affiliated with or sponsored by church
- Fraternal organizations
- Agricultural production
- Transfer of ownership of business
- Community antenna television services or facilities
- Golf courses, race tracks, or gambling facilities
