Business Revolving Loan Fund Facts and History
- Commission for Economic Development in Orem (CEDO) began administering the Business Revolving Loan Fund in 1985.
- There have been a total of 147 loans given.
- Total loans made that have revolved since 1985: $10,129,945.23
- Of the 147 loans made there have been over 1,100 full time equivalent low to moderate jobs created.
- The funds originated from the Housing and Urban Development’s Community Development Block Grant Program (CDBG) and the US Economic Development Administration (EDA).
- The minimum amount to loan is $15,000 and the maximum allowed amount to loan is $80,000.
- Some of our successful loan clients include: 800 Lens-Now (aka 1-800 Contacts), Digis Networks, Fezzari, Granny B’s Cookies, K-Tec (aka Blendtec), Kara’s Chocolates, Moxtek, PowerQuest (aka Symantec), Traco Manufacturing, and Wolfe Electronix (aka Computrol).