Regional Development Alliance, Inc. Loans for Small Business
The Regional Development Alliance, Inc. (RDA) was established in 1997 as “East Idaho’s Partner in Growth”. The RDA funds were specifically dedicated to a seven (7) county region in Southeast Idaho to help with retention of existing businesses, job creation, and new business development in the communities we serve.
Providing additional support and opportunity for our businesses in East Idaho is the very foundation and mission of the RDA. Small businesses and the local economy need our help to get through the COVID-19 crisis.
To meet this need the RDA has established a Small Business Relief Loan Program in the amount of $750,000 for businesses affected by the COVID-19 crisis and who are awaiting federal aid from various relief programs.
The loan program is available to fund loans of up to $10,000 for qualifying business.
Eligibility
Businesses located in Bannock, Bingham, Bonneville, Butte, Custer, Jefferson, or Madison counties may apply.
Terms
TOTAL PROGRAM: $750,000
INDIVIDUAL BUSINESS LOAN: $10,000
LOANS WILL BE DEFERRED FOR 5 MONTHS WITH A RATE OF 2.5%
INTEREST WILL BE WAIVED IF LOAN IS PAID IN FULL AFTER THE DEFFERAL PERIOD
OF FIVE (5) MONTHS
LOANS WILL MATURE IN 48 MONTHS
APPROXIMATE MONTHLY PAYMENT AFTER DEFFERAL $220.00