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The Development Company |
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The ECIPDA IRP RLF program covers all nine counties, including Bonneville, Butte, Clark, Custer, Fremont, Jefferson, Lemhi, Madison and Teton, with the exception of the City of Idaho Falls. The borrower must provide a minimum of 10% injection, unless a new company or a limited use facility, and then 20%. The RLF may provide up to 75% of the project, but usually not more than 50%, or the amount of the Third Party Lender loan, whichever is less. This program may also lend to eligible non-profit companies or public entities. A special interest rate is provided under those circumstances, but is usually based on the number of jobs created by the project. An environmentlal assessment is required prior to the beginning of the project, as well as collateral valuation. The ECIPDA/RDA IRP RLF program covers Bonneville, Butte, the south half of Custer, Jefferson, and Madison counties, with the exception of the City of Idaho Falls. The same parameters exist as the ECIPDA EDA IRP program discussed above. However, real estate loans are not eligible, unless as a part of projects where the main item is machinery and equipment, furnishings and fixtures, and inventory and working capital. Funds used for training or worker improvement are also not eligible costs. |
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