Since its inception in 1968, the Lincoln Trail Area Development District (LTADD) has been dedicated to crafting innovative solutions to complex community challenges. As a Workforce Specialist for LTADD, I've witnessed firsthand the impact of one of our organization's best-kept secrets: the Revolving Loan Fund (RLF) program.
In response to the unprecedented challenges posed by the COVID-19 pandemic, LTADD secured additional support from the EDA in 2020. A $550,000 grant, part of the federal CARES Act Recovery Assistance program, provided critical working capital gap funding to aid eight local businesses in our region. This underscores LTADD's commitment to supporting businesses during challenging times.
Looking ahead, as the region experiences widespread economic growth and a tourism boom driven by burgeoning industries, we hope to see an increase in the number of small businesses that take advantage of the RLF program. With $330,000 currently available for loans, we stand ready to assist small businesses in financing new ventures and capitalizing on the region's economic momentum.
Interested applicants are encouraged to visit LTADD's website for application details. Pre-applications are carefully reviewed by our staff, and promising candidates are invited to submit full applications, which undergo thorough assessment by the diverse and experienced LTADD Loan Review Committee.
To learn more about the RLF program and how it can benefit your business, visit ltadd.org/services/revolving_loan_fund.
Anthony Hellmueller serves as Workforce Specialist for the Lincoln Trail Area Development District. He can be reached at anthony@ltadd.org.