Ketchum CDC Revolving Loan Fund (RLF)

Project Concept/Vision:
The RLF will provide small loans to start-up or growing small business concerns. Its strategic goal is to increase the number of successful small businesses in Ketchum and the Wood River Valley.

Project Description:
A $50,000 Grant from USDA Rural Development was received in September 2009. This grant was awarded to create a Revolving Loan Fund to be housed and administered by the KCDC. Matching funds on a dollar for dollar basis are required for this grant. The Economic Development Team (EDT) created a Credit Committee to review and approve applications for these loans. 25 Loan applications have been distributed since September 2009. On December 11, 2009 the credit committee met to review the first 4 applications received.

Organization and Resources:
The RLF will be administered by the Executive Director of the CDC. Loan decisions will be made by the Credit Committee. Credit committee members are: Erin Smith, Pam Colesworthy, Eric Newman, Kim Nalen, Doug Barry, Jeff Smith and Tom Unger. The members have business backgrounds and three in particular have extensive loan experience. The committee will meet once a month as needed to review loan applications.

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Click Here for RLF cover letter.

Click Here for evaluation standards.

Click Here to download an application form.