Cherryland Electric Cooperative Revolving Loan Fund

The purpose of the Revolving Loan Fund is to assist economic development in the area served by Cherryland Electric Cooperative, including; Benzie, Grand Traverse, Kalkaska, Leelanau, Manistee, and Wexford counties.  This will be done by focusing on the creation and retention of jobs in  this 6 county area.  Applicants are not required to be members of the cooperative.

The Revolving Loan Fund is primarily to be used for capital projects in expanding existing industry or promoting new industry in the service area.  Operating capital loans may be recommended by the Loan Fund Committee. 

Loans from the Revolving Loan Fund are available to business ventures, non-profits, and governmental units limited to projects that will create or retain employment such as in expanding or new industries locating in the service area. 

The Basic Loan Criteria is the creation or retention of one (1) job (full-time equivalent) for every $20,000 provided from the Revolving Loan Fund. 

The Revolving Loan Fund may be used in a junior position at the discretion of the Loan Fund Committee; normally speaking, a first position will be requested when it is available.

For more information their loan guidance document can be found here: Guidance Document.

To apply  - Cherryland Electric Cooperative Revolving Loan Fund Application

Required Documentation - Loan & Document Checklist