Please ensure Javascript is enabled for purposes of website accessibility

City of Hillsboro
Plan for Assistance to Third Parties
Rural Business Enterprise Revolving Loan Fund


Small Business Development Program

Purpose: To offer low interest rate loan fund dollars to downtown business to stimulate development of new businesses and enhancement of downtown storefronts.

Source/Terms: Funds will come from the Rural Business Enterprise fund grant from the United States Department of Agriculture – as secured in spring 1999. Loans will be from one (1) to ten (10) years (depending on business preference) and at an interest rate of 2.00%. Loan payback dollars will be re-loaned to other businesses in the community as a revolving loan fund.

Guidelines: Loans will be made to operates of small businesses to facilitate the opening or expansion of a business or to improve the appearance of the business building. The loans could be used to offset or enhance conventional loans. Grants will be administered by the City of Hillsboro. Grants could be 100% of total project costs. The city shall secure liens or other security collateral – however, such does not need to be a first position security.

Loan Amount: The maximum loan amount shall be $5,000.00.

Committee: Loan review and recommendations shall consist of the Community Development Block Grant Committee of the City of Hillsboro. The CDBG Committee shall administer this program in accord with existing guidelines and criteria, but USDA funds shall be separate from any existing revolving loan funds.


Full Nondiscrimination Statement 

 
In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, offices, and employees, and institutions participating in or administering USDA programs are prohibited from discriminating based on race, color, national origin, religion, sex, gender identity (including gender expression), sexual orientation, disability, age, marital status, family/parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded by USDA (not all bases apply to all programs).  Remedies and complaint filing deadlines vary by program or incident. 
 
Persons with disabilities who require alternative means of communication for program information (e.g., Braille, large print, audiotape, American Sign Language, etc.) should contact the responsible Agency or USDA’s TARGET Center at (202) 720-2600 (voice and TTY) or contact USDA through the Federal Relay Service at (800) 877-8339.  Additionally, program information may be made available in languages other than English. 
 
To file a program discrimination complaint, complete the USDA Program Discrimination Complaint Form, AD-3027, found online at http://www.ascr.usda.gov/complaint_filing_cust.html and at any USDA office or write a letter addressed to USDA and provide in the letter all of the information requested in the form.  To request a copy of the complaint form, call (866) 632-9992.  Submit your completed form or letter to USDA by: 
 
(1) mail:  U.S. Department of Agriculture
 
Office of the Assistant Secretary for Civil Rights
 
1400 Independence Avenue, SW
 
Washington, D.C. 20250-9410;
 
(2) fax: (202) 690-7442; or
 
(3) email: program.intake@usda.gov
 
USDA is an equal opportunity provider, employer, and lender.