The Harrison County Economic Development Corporation (HCEDC) announced today that it has made significant adjustments to their Revolving Loan Program in order to encourage more entrepreneurial growth in Harrison County.
The new Small Business Loan Program is open to businesses in Harrison County for loans of $5,000-$50,000 and terms of up to 10 years at a 1.5% interest rate. The loans will be secured by the personal guaranty of the principals and owners of the companies with no additional collateral requirement.
The program will allow any new or existing businesses who has met with an Indiana Small Business Development Center (ISBDC) advisor and developed a business plan to submit an application. Business applicants must be current with all tax liability payments and have no outstanding judgements to be considered for the program.