The Town of Lyons, through its Revolving Loan Fund (RLF) Ad Hoc Advisory Committee members (collectively the “RLF Committee”), is managing a USDA RLF grant fund and a locally funded Business Recovery Fund. The federal grant funds were awarded on a competitive basis to the Town to use for economic development; specifically, for business capital and expansion, and opportunities that may help to create additional employment within Lyons. When a business repays the loan (via principal and interest payments), these funds are used to maintain a continuing loan program within the local RLF to make additional loans to businesses wishing to expand their business within the Town of Lyons.
Businesses within Lyons planning area are encouraged to apply for the Town of Lyons Revolving Loan Fund (RLF), for loans between $1,000 and $20,000. Longer term loan repayment schedules above and beyond the COVID related short term loan program below may also be considered by the committee.