REVOLVING LOAN FUND



Revolving Loan Fund

The City of Jacksonville maintains and administers a Revolving Loan Fund to assist new or expanding businesses in Jacksonville by making low-interest loans on qualifying projects.  These loans are made to qualifying applicants in conjunction with an approved loan from a financial institution.  RLF loans are limited in dollar amount and percent of the total project cost.  One permanent full-time job must be created or retained for each $15,000 loaned.  At least fifty-one percent (51%) of those jobs must be held by individuals who meet low-to-moderate income guidelines.

Loans cannot be made on projects which are started prior to loan approval by the Jacksonville City Council. Therefore, it is important to contact us early in your planning process if you wish to apply for a loan.

For full details of the program, see the Revolving Loan Fund Guidelines available below on this page.

If, after reviewing the guidelines, you have additional questions or believe you may qualify for a loan, please contact the program administrator, Ron Smiljanich at 217-479-3511 or rsmiljanich@jacksonvilleil.gov.