Revolving Loan Funds
Economic Development
Revolving Loan Funds
Any business interested in receiving a below-market interest rate loan must first complete a loan application and a business plan. A credit analysis is completed on every loan application. While the River Valley Regional Commission’s credit requirements are not as stringent as a bank’s, potential borrowers must indicate an ability to pay back the loan and provide adequate collateral. Each applicant is encouraged to include his/her local bank in this process. The River Valley Regional Commission does not intend to compete with private banks for loan customers. It is our intention to make a loan application more attractive to a local bank by providing gap funds.
Revolving Loan Funds in the
River Valley Region
Any business interested in receiving a below-market interest rate loan must first complete a loan application and a business plan. A credit analysis is completed on every loan application. While the River Valley Regional Commission’s credit requirements are not as stringent as a bank’s, potential borrowers must indicate an ability to pay back the loan and provide adequate collateral. Each applicant is encouraged to include his/her local bank in this process. The River Valley Regional Commission does not intend to compete with private banks for loan customers. It is our intention to make a loan application more attractive to a local bank by providing gap funds.
Click the buttons below to visit or expand.
CARES Act COVID-19
Revolving Loan Fund
From the Department of Commerce & The Economic Development Administration
The U.S. Department of Commerce announced July 2020 that the Department’s Economic Development Administration (EDA) is awarding a $1,001,000 CARES Act Recovery Assistance grant to the River Valley Regional Commission (RVRC). These funds will be used to capitalize and administer Revolving Loan Funds (RLF) that will provide crucial capital to small businesses and entrepreneurs in the River Valley region that have been adversely affected by the coronavirus pandemic.
Click the buttons below to visit or expand.
Revolving Loan Fund Success Stories in the River Valley Region
Baby’s Dream Furniture
In December 2012 the River Valley Regional Commission made a $200,000 loan to Baby’s Dream Furniture in Buena Vista (Marion County).
This family owned company has been in Buena Vista for many years but was facing inventory control issues. Following up with the company 18 months after the loan, staff found them doing well. Excess inventory has been sold and management is controlling inventory much tighter. The company has introduced several new product lines including Nottingham and Dana and has expanded the Heritage line with two new cribs. All of these products have the trademark convertible crib/changing table. Baby's Dream Furniture products are sold in more than 100 stores around the country. Employment has remained steady between 40-50 employees. While sales fluctuate during the year, overall they have remained steady. The RVRC looks forward to working with Baby's Dream Furniture for many years to come.
D & J Plastics
D & J Plastics, a plastic fishing lure manufacturer, was started in 1998 in Quitman County by Dennis and Joyce Montgomery.
The company has grown from two employees to more than 83 full-time employees and 35 contract employees. Customers including Walmart and Cabela’s, as well as international clients, are clamoring for the fishing lures produced in Quitman County, Georgia. In 2014, D & J Plastics needed additional warehouse space in order to accommodate its new product lines and satisfy its customers’ demands. A variety of resources were brought to the table to assist the company with its expansion. The Montgomerys worked with their local bank to provide construction financing. The River Valley Regional Commission Revolving Loan Fund provided a $200,000 low-interest loan. The final missing piece was funded by the OneGeorgia Authority, which approved a low-interest $160,000 loan. This project will add 10-15 jobs within the first two years and attract $65,000 in private investment. The River Valley Regional Commission is proud of the accomplishments of D & J Plastics and is pleased to be able to play a small part in their success.
Innovative Senior Solutions
Innovative Senior Solutions has continued to grow and expand its services since receiving a revolving loan from the River Valley Regional Commission in 2004.
Innovative Senior Solutions (ISS) provides home and community services for seniors who are at risk of being placed in a nursing facility and for individuals who have a permanent or temporary medical disability due to an acute or chronic illness. The staff provides personal care and sitter services, respite care, skilled nursing, and adult day health. Sisters Eshonda Blue (CEO) and Jessica Wright (COO) launched their business with a desk, phone, filing cabinet, and copy machine in the incubator center at South Georgia Technical College. In 2004 ISS received a revolving loan to open an adult day health center in Cordele. Now they have centers in Americus and Cordele that provide a safe and active environment for seniors or individuals with a developmental or medical disability who require assistance during the day. ISS offers transportation to and from the centers. ISS has grown from two employees to a staff of 40 full-time workers and an additional 35 part-time workers, and they now cover 19 counties. In 2013, ISS opened a personal care home as an alternative for people requiring 24-hour care. In 2014 they remodeled a storefront on Lamar Street in Americus to house their administrative offices. The ISS staff participates in community activities such as health fairs, Relay for Life, caregiver support group, the annual senior fall festival in Americus, and the Caring for Seniors Foundation. In 2011 Eshonda and Jessica were awarded the “Excellence in Business” award from the Rho Sigma Omega Chapter of Alpha Kappa Alpha Sorority. In February 2012, the Americus-Sumter Chamber of Commerce awarded ISS “Small Business of the Year.” The RVRC is proud to have been part of the Innovative Senior Solutions success story and looks forward to seeing them grow even more.
Contact Us
For more information on the Revolving Loan Fund program, contact Sarah Walls or Jim Livingston at (877) 819-6348.