Funding Applications

Regional Investment Fund

The Regional Investment Fund is designed to finance companies that are expanding in a seven county area in Eastern Idaho. There are no minimum or maximum investment amounts. Rates follow risk and typically are set at Prime + 1 - 3 points. Terms are dependent on the use of funds but typically extend from three to seven years.

This fund serves both small and large businesses. The funds may be used to fund operating capital, real property, equipment, inventory, start-up costs, or other appropriate costs. The funds may be used to finance retail operations in limited rural areas of the region. Please see the Regional Investment Fund application or below for further information on Rural Retail Loans.

Bonneville County Fund

The Bonneville County Fund is designed to finance companies meeting one or more of the following characteristics:

• Owned by a former or current employee of the Idaho National Laboratory (INL)
• Providing substantial services to the Idaho National Laboratory (INL)
• Employing former employees of the Idaho National Laboratory (INL)

Companies applying must be located in Bonneville County, and funds must be used to finance the Bonneville County operation. Minimum loans are $1,000 and maximum loans are $250,000. Rates follow risk and are typically 1% - 3% above Prime. Terms are typically three (3) to ten (10) years depending on use.

Micro Loan Program

The RDA's Micro Loan Program is designed to assist entrepreneurs who need a small loan to get their business idea started. It is NOT intended to be a long-term loan, or to provide assistance beyond the very initial start-up phase. Minimum loan amounts are $1,000. Maximum loan amounts are $15,000. Rates are Prime + 1 - 3. Terms will not exceed 48 months in most cases. No business will be considered for a second round of financing from this fund. Other funds are available throughout the region for additional growth.

The Micro Loan fund is limited. When there are funds available, applications will be considered. Please contact Connie Chadwick at 208-528-9400 ext. 235 to inquire as to funds availability.

Rural Retail Loans

The RDA's Rural Retail Loans program is designed to benefit rural communities that normally don't have a broad range of opportunities for economic development. Retail loans are limited to the following towns: 1.Downey (Bannock County) 2.Lava Hot Springs (Bannock County) 3.Aberdeen (Bingham County) 4.Arco (Butte County) 5.Challis (Custer County) 6.Mackay (Custer County) 7.Stanley (Custer County) 8.Mud Lake/Terreton (Jefferson County).

We will not fund one retail business that will directly cause another to fail and the proposed business must be a benefit to the community.

For Rural Retail Loans, please use the Regional Investment Fund application.

Economic Development Grant Program

The RDA offers grants to regional and local economic development programs and related opportunities on a limited basis. The board determines an annual budgetary set-aside at each Annual Meeting in May to assist in funding economic development programs and initiatives throughout the next year. The set-aside is dependent on RDA and CRO cash positions and anticipated income for the year. It is not required that the annual set-aside be expended during the year and unexpended funds do not accrue to the next year.

Economic development programs/initiatives must apply annually for assistance. All applicants must be able to adequately answer to performance and self-sufficiency criteria as outlined in the application.

Qualified applicants are legally organized and formally recognized organizations at either the regional or local level engaged in the practice and profession of economic development as recognized by the International Economic Development Council(IEDC).