FCFF COVID-19 Working Capital Direct Loan Program

The Franklin County First Fund (FCFF) COVID-19 Working Capital Direct Loan Program is intended to foster the retention of small businesses throughout Franklin County, that have been negatively impacted by the COVID-19 pandemic.  The program is administered by the FCADC staff, who is responsible for the marketing, packaging, and servicing of all loans.

Program Information

Eligible Borrowers:  To qualify for financing through the FCFF, a business must be for-profit, have one hundred (100) or fewer employees (including any related or affiliated businesses), be physically located in Franklin County, and reflect a tangible net worth of less than $2,000,000 at the time of application.

Eligible Costs:  Those costs which are associated with the working capital needs of the business. Working capital is defined as capital used by a small business for operations (payroll, accounts payable, utilities, facility rent, mortgage payments, insurance, etc.)

Loan Size & Interest Rate:  The FCFF working capital loan shall not exceed 50% of the total working capital costs of the applicant over the PREVIOUS THREE (3) MONTHS. The maximum loan amount shall not exceed $50,000.  (Internally prepared P&L statement and balance sheet based on QuickBooks or some comparable accounting program will be required to validate expenses).  The interest rate shall be fixed at 2.5%.  

Loan Term:  The term shall be three (3) years, with the first 90-days of payments being deferred.  Principal and interest payments shall commence at the start of fourth month.

Program Guidelines, Application, and Required Application Addendums

  • FCFF COVID-19 Working Capital Loan Guidelines:  Click Here
  • FCFF COVID-19 Working Capital Loan Application: Click Here
  • FCFF COVID-19 Working Capital Personal Financial Statement:  Click Here
  • FCFF COVID-19 Working Capital Debt Schedule:  Click Here
  • FCFF COVID-19 Working Capital Fee Structure:  Click Here
  • IRS W-9 Form: Click Here

For more information and application requirements please contact:

Rhonda Wojciechowski, FCADC Loan Administrator, 717-263-8282 or rhonda@fcadc.com