Jefferson County Revolving Loan Fund Application

Jefferson County Revolving Loan Fund Application
August 28, 2020 Visit Madison

Description of Application and Selection Process

The OCRA COVID-19 Response Revolving Loan Fund (RLF) is a quick-response, low documentation loan program for small and micro businesses located in Jefferson County with at least 51% of low to moderate income (LMI) jobs. Funds are available for low to moderate income businesses only. The Loan Terms provided on the following page of this application details the general terms of the OCRA COVID-19 Response Revolving Loan Fund.

Loan funds can be used for payroll, working capital, and remote work capabilities all with the intention of retaining LMI jobs.

The purpose of the fund is to provide quick and easy financial relief for Jefferson County small and micro businesses.

The prospective borrower may submit an application, business recovery plan, and self-scoring sheet and submit it electronically, or the prospective borrower can pick up an application at the Madison, IN Visitor’s Center at 601 W. First Street. The application will have a self-score sheet attached for the applicant to assess where they will score on the loan application. An income survey will also be required for the business owner to fill out. This can be found with the application. The applicant will also have to provide a recovery plan for their business showing their intent to be self-sufficient.

After the application has been submitted, the Loan Manager will call the applicant to go over the application and fill in any information that might have been left out. The Loan Manager holds the ability to discard of an application should it not meet the basic loan criteria. Once the phone review has been completed and the loan application has been approved by the Loan Manager, the Jefferson County Loan Selection Committee will review the application. A score will be given to the loan application based upon subjective and objective criteria. The score of the application will determine how much the applicant can take out in loans and the term of the loan. After the Loan Selection Committee approves the application and gives the application a final scoring, the applicant will receive a call-back from the Loan Selection Committee with the application status and other information.

The selection process consists of a scoring sheet based upon both objective and subjective criteria. Extra scoring points will be given to veteran, women, and minority-owned businesses; and businesses located in the National Historic Landmark District. The amount of points an applicant can receive is based upon the need of the business and the number of low to moderate income (LMI) employees they employ.


AUTHORITY TO COLLECT PERSONAL INFORMATION: This information is provided pursuant to Public Law 93-579 (Privacy Act of 1974).

EFFECTS OF NON-DISCLOSURE: Omission of an item means your application might not receive full consideration.

I/We authorize disclosure of all information submitted in connection with this application to the financial institution agreeing to participate in the loan.

As consideration for any Management and Technical Assistance that may be provided, I/WE waive all claims against RLF and its consultants.




A number of the Exhibits noted below may be addressed within your Business Plan in which case they do not need to be separately labeled. Please mark “BP” next to those items.

Yes  No  N/A  1. Have you filled out the Income Survey found on Please include it with this application.

Yes  No  N/A  2. Was your business in existence in 2019 and conducted business?

Yes  No  N/A  3. Has your business been profitable in the past three years?

Yes  No  N/A  4. Are all your taxes paid and up to date?

Yes  No  N/A  5. Have you included a business plan for your business?

Yes  No  N/A 6. Have you included a brief statement of how the COVID-19 pandemic has affected your business?

Yes  No  N/A 7. For micro businesses, have you included tax forms to verify LMI status?

Yes  No  N/A 8. For small businesses, have you included paystubs to verify LMI status?

Yes  No  N/A 9. Have you included the statements listed below? 1, 2, 3 for 2019 through to the date of application submission.

  • Balance Sheet or Income and Expenses
  • Past due amounts for 2020
  • Debt incurred because of the COVID-19 pandemic

Yes  No  N/A  10. Have you included a personal reference?

Yes No N/A   11. Have you included a business reference?

How Do We Score Our Loans ? Click here



The OCRA COVID-19 Response Revolving Loan Fund Program will consist of loans that have a term between 3 and 5 years. Per OCRA guidelines, at the discretion of the Jefferson County Loan Selection Committee, a business may have their payments deferred for the first 6 months of the loan term at a 0% interest rate. OCRA guidelines also allow for loans to be forgiven after 2 years of payment and turned into a grant. This is also to the discretion of the Loan Selection Committee.

The minimum amount a business can borrow is $5,000 and the maximum is $25,000. The loan amounts will be based upon the applicant’s application and the objective and subjective scoring. The loans will have a low interest rate at 2%. Payments will be made monthly through EFT.


Great $2020 Stay & Cash Giveaway Entry Form

If you booked at stay in Jefferson County/Madison, Indiana between September 1 and December 6, 2020 at one of the participating promotion accommodations, you are eligible to enter for a chance to win cash. Must be 18 years of age. Drawings will be announced on or around December 11, 2020.
Name on Reservation(Required)
Zip Code(Required)
This is typically a once a month newsletter. No information is sold or shared.
MM slash DD slash YYYY
Date of reservation must fall between September 1st and December 6th, 2020.
Must be one of the participating accommodations in the 'Great $2020 Stay & Cash Giveaway"


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