East Texas Rural Access Program – Revolving Loan Fund

Frequently Asked Questions

How does the loan fund work? When combined with other financing resources, these seed funds can help make projects a reality, providing better access to healthcare while creating jobs and leveraging spending within a community. Sometimes a project is close to being viable, or bankable, but not quite. Due to the unique nature and flexibility of this fund, it can be the catalyst to creating the last piece of the financing puzzle.

Why is the loan fund referred to as Revolving? As the loans are repaid, the funds are available on a perpetual basis to finance other healthcare projects.

What is the loan amount available? Loans between $25,000 and $150,000 are available to be combined with other types of funds and assets in support of healthcare projects. The revolving loan fund can provide up to 25% of the total project needs.

What are some of the other sources of financing that these funds can be combined with? The other funds and assets for a project can come from grants, public dollars (including economic development funds), all types of private loans, self-financing, and existing assets such as land, buildings and equipment.

What are the loan terms? Favorable rates and repayment terms are developed to fit project needs, ensure project success, and to work with other funding partner requirements.

How do I know if my project is eligible and how do I make application? Almost any project that brings improved access to healthcare is eligible for consideration. We suggest that you contact the loan specialists who can talk you through that step and discuss what part the RLF might be able to play in your project.

Is the application difficult? We will support you through the five-page application process, as well as coordinate with your other funding participants as necessary. Similar information to a conventional loan application is needed, and many times that is readily available from what you may have already provided other lenders.