Economic Development Initiatives
Doing Business in Lebo
The City of Lebo supports local business growth and welcomes new opportunities for development.
Economic Development Loan Program
The City of Lebo offers a low-interest loan program to assist businesses with startup costs, expansion, and investment in the community.
Program Highlights:
-
4% fixed interest rate
-
5- or 10-year loan terms
-
No prepayment penalty
-
Local decision-making by the City Council
Loan funds may be used for:
-
Building purchase or renovations
-
Equipment purchases
-
Inventory or capital improvements
-
Other eligible business expenses
Eligibility
Applicants must:
-
Be located within the City of Lebo or planning to locate within city limits
-
Operate a lawful business
-
Demonstrate the ability to repay the loan
How to Apply
To apply for the program:
-
Submit a written request to City Hall including:
-
Project description
-
Requested loan amount and term
-
Financial information or business plan
-
Description of collateral
-
-
Present your request at a City Council meeting
-
The City Council will review and make a determination
Loan Security and Terms
Loans are secured through a mortgage or lien on property or equipment.
Payments are due monthly and are deposited back into the City’s Economic Development Fund to support future projects.
Failure to meet loan terms may result in default and collection actions.
Full Policy
For complete program details, view the full policy here:
Economic Development Loan Policy (PDF)
Start a Business in Lebo
If you are considering starting or relocating a business to Lebo, City Hall can assist with:
-
Utility service setup
-
Local requirements and approvals
-
Connecting you with available resources
Lebo has several initiatives in place to support existing business and attract new business to our community. Contact City Hall for details.