A partnership of Orange County and CIC, the Orange County Revolving Loan Fund Program was created to provide a flexible source of supplemental financing for businesses expanding or locating to Orange County.  The fund, created to assist businesses respond to impacts from the COVID-19 pandemic, was funded using American Rescue Plan Act monies.

Please note: This is a loan, NOT a grant. Businesses should expect to pay back the loan.

Who is eligible?

• Existing businesses with 6 months of revenue history
• New business startups or businesses with less than 6 months of revenue are eligible to apply if they are a graduate of CIC’s Entrepreneur Workshop or have maintained a long-term, professional relationship with an entrepreneur support organization such as SBDC, SCORE, CIC, etc.

Loan capital is restricted to Orange County businesses ONLY

Terms:

• Loans up to $20,000
• Terms range 1-5 years
  • Year 1 payments on loans would have interest rate reduced by 3% (3.75-6.75%),
  • Year 2 reduced by 2% (4.75-7.75%),
  • Year 3 reduced by 1% (5.75-8.75%)
  • Loans beyond 3 years in term would pay CIC’s standard rate (currently 6.75% to 9.75%) after year 3
• Closing fees average $200, and may be lower for very small loans
• Personal guarantees required on all loans

Eligible Uses of Loan Funds:

• Operating Capital
• Land or Building Acquisition
• New Construction
• Property Rehabilitation or Improvements
• Purchase of Equipment, Supplies, and Materials
• Inventory for Resale

Review the full Orange County RLF Program Guidelines.

Application Process & Required Documentation

All loan application materials will be submitted via Lenderfit. To apply:

1. Email our Financing Team or call (434) 218-3481 to schedule a consultation
2. You’ll receive an email invitation to begin your application in Lenderfit within 1 business day
3. In Lenderfit:
   1. Complete your loan application
   2. The following documentation will be needed for a complete application:
      • Business Plan and Cash Flow Projections
      • Existing businesses should submit financial statements and business bank statements
      • Last two years of tax returns
      • Personal Bank Statements
   3. Schedule phone call/site visit with CIC staff
4. Complete applications submitted by the first of the month should have a decision within 4-5 weeks