Let Us Answer Your Loan Fund Questions!

The Tri County Economic Development District and the Rural Opportunities Loan Fund have been providing financial assistance to small businesses located in Eastern Washington since 1984, using both State and Federal funding.  Here you will find answers to some of the most frequently asked questions.

How is the Rural Opportunities Loan Fund (ROLF) funded?

ROLF is funded from several sources, including the US Department of Commerce/Economic Development Administration (EDA, United States Department of Agriculture (USDA)/Rural Development, and the Washington State Department of Commerce.

How much funding is available?

Loans of $500 to $250,000 are available depending on the location of the business/the intended use of funds/loan funds used.  We can finance a maximum of 75% of the total business project. The loan amount is subject to the business’s ability to meet applicable job creation guidelines.

What can loans be used for?

Our loans can finance the purchase of land/real estate, working capital, and equipment.  Loans cannot be used for: refinancing (unless the refinancing is necessary for the business to remain or become viable); payment of tax obligation; or making payments on existing debt, which includes payments on other loans.

What areas does the ROLF serve?

Ten Eastern Washington counties, including Adams, Asotin, Ferry, Garfield, Grant, Lincoln, Pend Oreille, Stevens, Whitman, and (rural) Spokane counties. (These are the dark grey counties on the following map).

ROLF Service Areas

(Click to Enlarge) The dark-grey counties are the areas that are served by the Rural Opportunities Loan Fund.

What information is required to apply for a loan?

We require that applicants submit a completed Loan Fund Application Form, supporting documentation, (including a business plan, personal and business financial information, and a description and current valuation of collateral) and a $50 loan application fee.

How are applications reviewed and approved/denied?

Application packets are reviewed by a Loan Committee which has final loan approval authority.  Applications are reviewed based on each potential borrower’s credit listing, character, collateral, business plan, ability to repay the loan, and the economic impact on the community.

Are ROLF loans low interest?

Not necessarily.  ROLF provides funding to businesses that are unable to secure adequate financing from conventional sources; we are not a subsidized, low-interest program.

Still have questions? Ask us! 

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This institution is an equal opportunity provider and employer.  This is an Equal Opportunity Program.  Discrimination is prohibited by Federal Law.  Complaints of discrimination may be filed with the USDA, Director, Office of Civil Rights, Washington, DC 20250