Revolving Loan Fund (RLF)

The Oakland County Revolving Loan Fund (RLF) was created to provide gap financing to businesses negatively affected by COVID-19, primarily small businesses owned by minorities, women or located in an economically, disadvantaged area. However, all Oakland County small businesses are welcome to apply.

​Example

• Bank/Credit Union Loan: $170,000
• Oakland County RLF: $100,000
  
• Owner’s Equity: $30,000
• Total Project Cost: $300,000

Next Steps:

1. Learn more about the program benefits and requirements here
2. If interested in the program talk with your preferred commercial lender
3. Contact for more information:
   

Belinda Turner-Dubois
Manager, CEED Lending
bdubois@miceed.org
(248) 460-3973

• Oakland County Revolving Loan Fund can provide gap financing up to one-third of total project cost
• Minimum 10% owner’s equity into project
• Term loans with amortizations up to ten years
• Competitive fixed interest rates
  
• Bank/Credit Union can have first lien on assets
  
• OCRLF dollars can be considered as equity into project for loan to value purposes
• Bank/Credit Union loan combined with owner’s equity make up two-thirds of project cost

​Example

• Total Project Cost: $300,000
• Bank/Credit Union Loan: $170,000
• Oakland County RLF: $100,000
• Owner’s Equity: $30,000