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Low Interest Loans for Businesses

The City of Kent maintains a Revolving Loan Fund (RLF) Program designed to provide direct, low interest loans to qualified small businesses who expand or locate in the City of Kent. RLF funds may be used for fixed asset financing such as:

The acquisition of:

  • Land
  • Building
  • Machinery
  • Equipment
  • Construction
  • Remodeling
  • Expansion or conversion of facilities

Additionally, up to 50% of the total RLF loan amount may also be used for working capital and inventory.


View and download an application (PDF).


Other program requirements:

  • Requirements generally necessary for any loan approval: good history, strong financial statements, and a high probability of repayment.
  • A minimum 10% equity participation is required for each project.
  • One job must be created or retained for each $10,000 loaned within 12 months of project completion.
  • The minimum loan amount is $5,000, with a maximum amount being the balance of funds available in the City's RLF account.
  • A conventional loan from a federally insured lending institution must be arranged prior to final RLF approval. All RLF projects must leverage a minimum ratio of two private dollars for each RLF dollar loaned. The RLF portion of a project may not exceed 30% of total project cost.
  • The City of Kent Loan Review Committee will establish the interest rate, which will not be less than 50%, nor more than 75% of the current prime interest rate. Once determined, the interest rate on the RLF will be adjusted periodically.
  • Generally, a fixed asset loan will not exceed 15 years, and a working capital loan will not exceed 12 months.
  • There is a non-refundable application fee of $100 that is to be submitted with the formal application for loan funds. If the loan request is approved, the borrower will also be billed for the full amount of the administrative costs incurred by the City for processing the loan which will be payable at the time of the loan closing. A loan-servicing fee is also charged by the bank servicing the loan that will be paid by the borrower directly to the bank on a monthly basis.

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