economic development

loan programfor Benton

and franklin counties

For additional information:

www.hanfordfund.com or contact:

Art Tackett Community and Economic Development Manager 509-943-9185 atackett@bfcog.us

Katie Fast Loan Officer 509-943-9185 kfast@bfcog.us

JoEllen Peters Administrative Consultant 509-547-9448 - Direct 509-845-6422 - Cell jpeters@haeif.com

Hanford area economic

investment fundadvisory committee

(Haeifac)

HaeifacHanford area economic investment fund

advisory committeeP.O. Box 3580

Pasco, WA 99302

Hanford area economic investment fund advisory committee Background

HAEIFAC Mission

To fund projects that retain and create jobs and attract investment and economic diversification in Benton and Franklin Counties. HAEIFAC was established by the Washington State Legislature in 1991 to finance projects to expand and diversify the economy and decrease dependence on U.S. Department of Energy operations in the Tri-Cities region.

Haeifac development appointeesThe Hanford Economic Investment Fund Advisory Committee for Benton and Franklin Counties features appointees from the following sectors:

» Benton County » City of Kennewick » City of Pasco » City of Richland » Financial Sector » Franklin County » Labor Sector » Port Districts » Private Business Sector

HAEIFAC was instrumental in helping us open one of the

first craft distilleries in Washington and in helping us through the privatization of spirit sales throughout the state. They have been one of our biggest allies in this industry!

Brian Morton Blue Flame Spirits

private Business loansThe Hanford Area Economic Investment Fund Advisory Committee awards loans to for-profit corporations when there is compelling evidence that such loans will create jobs, enhance the local economy and further economic diversification. Private Business Loans provide money for working capital, research and development, purchase of land, new building construction, acquisition and renovation of existing buildings, purchase of machinery and costs such as architectural, legal, engineering services and appraisals.

Haeifac fundingHAEIFAC receives a portion of fees collected from the deposit of low-level radioactive waste at the Hanford Nuclear Reservation. This waste comes from a variety of sources from industrial, medical and research uses. The committee invests these funds through a revolving loan program to qualified businesses and municipal corporations.

Haeifac loansHAEIFAC has two loan funds. The first is a Private Business Loan Program for corporations when there is compelling evidence that such loans will enhance the local economy and further economic diversification. Loan applicants must have been turned down for a loan from a traditional lending institution and demonstrate the ability to repay the loan. The second loan fund is a Public Loan Program for municipal entities.

Haeifac portfolio

» Blue Flame Spirits » City of West Richland » Lieb Foods, LLC » One World Telecommunications » Port of Benton Port of Pasco » Ti-Lite Tim Bush Motor Company » Walter Clore Wine & Culinary Center » Whitstran Brewery

public loan programPublic Loans are awarded to fund development necessary for a business or industry to expand or locate in Benton or Franklin Counties. Acceptable industry categories include, but are not limited to, tourism, manufacturing, processing, research and development, assembly, warehousing and distribution.

$

Loans

Grants

» City of Connell City of Kennewick » City of Pasco City of Richland » City of West Richland » Port of Benton Port of Kennewick

Minimum Criteria:

» The project must diversify or expand the area’s economic base and create jobs in Benton and Franklin Counties.

» Applicant must be a for-profit business located or headquartered in Benton or Franklin County.

» Applicant must demonstrate the need and the ability to repay and administer loan funds.

» Applicant must have been denied a loan by a traditional lending institution.

» Loans may be required to be personally guaranteed, secured with collateral or leveraged with funding from other sources.

» Loans will not be made for less that $150,000 or for a term of more than 15 years.

Minimum Criteria:

» The project must diversify or expand the area’s economic base and create jobs.

» Applicant must be a municipal corporation with economic development authority in Benton or Franklin County.

» Applicant must demonstrate need and the ability to repay and administer loan funds.

» Loans may be required to be secured with collateral or leveraged with funds from other sources.

» Funds must be used for a public facility or infrastructure development to enhance and diversify the local economy or be necessary for a business or industry to locate or expand.

» Loans will not be made for less that $150,000 or for a term of more than 15 years.