Business Development


SCEIC administers a Revolving Loan Fund (RLF) to provide capital lending to new and existing businesses in Stevens County. The SCEIC RLF loan programs are:

  • Gap Financing
  • Business Assistance
  • Storefront Renovation
  • Micro Loan

Gap Financing Loan Program

SCEIC provides financial assistance to targeted business sectors in Stevens County with its Gap Financing Loan Program. Gap Financing loans provide the necessary funds when the need of money is greater than the availability of money from a commercial lender and the owner’s equity. Gap financing is 2nd security position lending at below market rates with long terms to qualified businesses for real estate, building and renovations, machinery and equipment, fixtures and furniture, and working capital. The Gap Financing Loan Program is available county-wide. Applications can be downloaded and completed; then, emailed, mailed or delivered in person to SCEIC.
 

Business Assistance Loan Program

SCEIC provides financial assistance to targeted business sectors in Stevens County with its Business Assistance Loan Program. Business Assistance loans provide the necessary funds to assist business to expand, renovate, or for other business needs.
 

Store Front Renovation Loan Program

SCEIC provides loans for up to $50,000 at fixed rate and fixed term. Business Assistance loan proceeds can be used for renovations to a building’ interior, energy efficiency upgrades, and building code and ADA compliance or other business financing needs that if not made available could result in the business closing. The Business Assistance Loan Program is for businesses within the City of Morris. Applications can be downloaded and completed; then, emailed, mailed or delivered in person to SCEIC.
 

Micro loan Program

SCEIC’ provides Micro Loans for less than $5,000 to start a business or for other uses by smaller businesses. The Micro Loan Program is for businesses in the City of Morris. Applications can be downloaded and completed; then, emailed, mailed or delivered in person to SCEIC.

 

SCEIC Large Loan Fund Application

SCEIC Small Loan Fund Application