07/21/2026
RDBG LOAN ANNOUNCEMENT 3.75% interest rate:
This program is made possible through a $100,000 USDA Rural Business Development Grant, along with a Town contribution; this program will provide below-market financing to eligible small businesses . As loans are repaid, those funds will be reloaned to future businesses, creating a lasting economic development resource for our community.
Loan terms are designed to make financing more affordable, with interest rates 3% below the current prime at the time of lending. (that is a current loan rate of 3.75%) . Loans do require a match of 50% and will run as long as the $100,000 funds last. The maximum award amount is $50,000. Applications will be reviewed by an experienced local loan review committee with a rolling basis and the first review date being August 5th.
This Revolving Business Loan Fund is designed to support local business growth, encourage new investment, and strengthen our economy per the presentation at Town Council's last meeting made by Grant Consultant, Travis Jackson. It is not limited to downtown, but per the program guidelines downtown is given preference. Additional information, eligibility requirements, and application materials can be requested by emailing [email protected] or calling 276-728-2128. We are excited to invest in Hillsville's entrepreneur success!
