Business Development

 

Intermediary Relending Programs (IRP)

The Village of Goreville has small business financing available to lend from their new Intermediary Relending Programs (IRP).  The Goreville IRP funds have been capitalized by a loan from USDA Rural Development of $400,000. These loan funds will allow the Village of Goreville to provide low-interest loans to aid small and growing businesses.

Eligible loan recipients that plan to open or expand their business within the Village can borrow up to 75% of project costs, not to exceed $150,000 from this program at an interest rate of 4.5-6%. 

Loan proceeds can be used for real estate purchase, acquisition of an existing business, new construction, building renovations, machinery, equipment, inventory, supplies, and working capital. 

Loans cannot be obtained for agricultural purposes, independent housing, golf courses, race tracks, gambling facilities or to refinance existing debt.

For more Information                                                                                                                                               Please Contact: Brittany Taylor, Southern Five Regional Planning                                                                        618-845-9000

Goreville IRP Application