Cavalier Rural Electric Cooperative
  • About Us
    • Employees
    • Nondiscrimnation Statement
  • Territory Map
  • Rebates
  • Newsletter
  • Member Services
  • Scholarships
  • Rural Development Loan
  • Glenn's Appliance
    • Showroom Products
  • Safety
  • Meeting And Events
  • Careers

Rural Development Loans

Cavalier Rural Electric provides Rural Development Loans to qualified/eligibility borrowers. 

​The Rural Development program was created;
  • To enhance the development and expansion of business and jobs that benefit rural areas. 
  • To provide financing options for new or expanding businesses or community facilities
  • To leverage member owner equity and other financing sources
Eligibility Requirements;
  • Project funding must be guaranteed by a minimum of 20% by applicant.
  • Security for loan proceeds will be in the form of collateral of existing property. Liens will be recorded with the proper county offices. 
  • The business or community facility must be located in a rural area without restrictions to the service area.
  • Eligible projects must demonstrate an impact on local economy and critical needs. 
  • Recipients may be subject to an audit of loan proceeds
  • Applicant will be required to sign an Assurance Agreement stating they are and will continue to comply with the Civil Rights Act
Repayment Terms;
  • Real Estate 10 Years
  • Equipment 5 to 7 years
  • Working Capital 1 to 3 years
Project Evaluation Criteria;
  • Job creation and Retention 
  • The Quality of jobs created or retained including wage rates, benefit package offered, potential for longevity in employment, and ability to advance in the organization
  • Impact on area economy and environment
  • Leveraging of other funds, both private and public
  • Financial strength
  • Likelihood of success
  • Management strength, expertise, and past performance
  • Evidence of a market and marketing plans

Click here to download the application.
Proudly powered by Weebly
  • About Us
    • Employees
    • Nondiscrimnation Statement
  • Territory Map
  • Rebates
  • Newsletter
  • Member Services
  • Scholarships
  • Rural Development Loan
  • Glenn's Appliance
    • Showroom Products
  • Safety
  • Meeting And Events
  • Careers