The RRLF and the CREDiT are designed to “fill the gap” between the amount of conventional financing available and the amount needed for the project. The intent of gap financing is to provide the amount needed to develop a job-creating business expansion. Loan amounts range from $25,000 to $300,000.
CREDiT will also loan to start-up business with the potential to create jobs. RRLF loans cannot finance more than 75% of the total project costs.
The RRLF is sponsored by the Cities of Kennewick, Pasco and Richland through their Community Development Block Grant Program (CDBG) and the U.S. Economic Development Administration (EDA) and is administered by the Benton-Franklin Council of Governments.
CREDiT will also loan to start-up businesses with the potential to create jobs. CREDiT is sponsored by the U.S. Department of Agriculture and is administered by the Benton-Franklin Council of Governments.
For more information about our loan financing programs please contact our Community and Economic Development Staff.