Public Loans are awarded to fund development necessary for a business or industry to expand or locate in Benton or Franklin County. Acceptable industry categories include, but are not limited to, tourism, manufacturing, processing, research and development, assembly, warehousing, and distribution.
- The project must diversify or expand the area’s economic base and create jobs.
- Applicant must be a municipal corporation with economic development authority in Benton or Franklin County.
- Applicant must demonstrate need and the ability to repay and administer loan funds.
- Loans may be required to be secured with collateral or leveraged with funds from other sources.
- Funds must be used for a public facility or infrastructure development to enhance and diversify the local economy or be necessary for a business or industry to locate or expand.
- Loans will not be made for less that $150,000 or for a term of more than 15 years
- See the Public Loan Application Information / Procedure for more detailed requirements.