Departments - RAD Loan
Meghan McDonough, Manager of Economic Development
Additional Updates will be forthcoming.
The RAD loan is available to businesses that are located or seeking to locate in The City of Havre de Grace. RAD is an economic development tool used for the purpose of supporting small businesses while increasing employment opportunities. The type of projects that RAD loan funds can be used for are commercial and industrial land and/or building acquisition, new construction, renovations, equipment, purchase of machinery and working capital. All interested applicant's must complete an in-depth application and submit a business plan. The application is reviewed by a RAD Loan Committee and their recommendations are forwarded to the City Council for final approval. The maximum amount of money available per applicant is $100,000 at a 5% interest rate. The loan term length is dependent upon the complexity of the project.
2006-2007 Recipients of the RAD loan:
Big House Signs
Crazy Eights Hair Salons
Vincenti Decoys
Salon Marielle By the Bay
Web Advantage, Inc
Sav A Lot
Red Onion, LLC.
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