The Industrial Revolving Loan Fund (IRF) provides low-interest gap financing to help companies in South Bend expand their operations and facilities, and to assist start-up companies in the area.

IRF interest rates are generally below market and fixed. IRF loans are intended to supplement traditional financing sources. The preferred financing structure is:

• Bank: 57%
• IRF: 33%
• Borrower: 10%

Uses

The Industrial Revolving Loan Fund program can be used to finance the following activities:

Purchase of real estate and construction of buildings
Acquisition of equipment, machinery, supplies or materials
Working capital based on individual review

Eligibility

Businesses eligible for Industrial Revolving Loan Fund assistance include:

Businesses located in South Bend and operating in the manufacturing, transportation, communication, wholesale trade and service sectors.

The minimum IRF loan is about $100,000 with the maximum being $750,000

Contact

For more information about IRF, contact Kathy Hahn, 574.235.9378