Small Loans for Existing Businesses
Are you an existing business located in Phillips County looking to enhance, maintain, or expand your business and needing some additional funding?
If so, the PCED Microloan provides a maximum loan amount of $5,000 with a maximum 2 year payback with no interest charged in the first year. Any principal balance remaining after the first year anniversary of the loan will draw interest at a fixed rate of 1% below New York Prime Rate and not less that 4%.
Application instructions and rules are found on the application form below.
**NEW in 2026: The PCED Business Loan and PCED Microloan now have the same application. Instructions are on the first page for reference. Contact the PCED Office with questions.
Please remember that annual loan funds are limited and will be approved on a first-come, first serve basis.