RSMP Revolving Loan Program
The Rochester Joint Schools Construction Board (“RJSCB”) has established a Revolving Loan Program (“RLP”) to provide short-term working capital assistance to Eligible Business Enterprises (EBE’s) who perform work, or provide materials in connection with Phase 2 of the Rochester Schools Modernization Program (“RSMP”). With access to a disbursement maximum of $10,000 per occurrence, a loan can be used to finance the direct costs of performing under a contract with the RJSCB with regard to payroll, supplies, equipment and other overhead.
As a reflection of the RJSCB’s effort to remove barriers and promote business growth, the RLP short form application makes the loan process easy to implement and navigate. How easy? The RLP Committee will process approved applications within 3 business days! There are no credit checks and zero (0%) interest applied with a minimal administrative fee!
All applicants for loans from the RLP shall be subject to the loan process set forth in the Program guidelines. Loans are subject to discretionary approval of the RLP Committee, qualifications of the borrower, and availability of funds.
The Rochester Economic Development Corporation (REDCO), a not-for-profit development corporation dedicated to stimulating and increasing business investment in Rochester, will serve as the custodial administrator for the Loan fund.
Please contact Business Opportunities Program Manager, Travis L. Miller, at (585)512-3816 for more details.