Recycling Market Development Zone
The Recycling Market Development Zone (RMDZ) program combines recycling with economic development to fuel new businesses expand existing ones, create jobs, and divert waste from landfills.
This program provides attractive loans, technical assistance and free product marketing to businesses that use materials from the waste stream for their manufacturing. To participate a business must be located in a RMDZ Zone.
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RMDZ Revolving Loan Program
The Recycling Market Development Zone (RMDZ) Revolving Loan Program provides direct loans to eligible businesses and nonprofit organization that manufacture recycled raw material, produce new recycled products or that reduce the waste resulting from the manufacture of a product. These Loans promote market development for post consumer and secondary waste materials. Funding from the program can be used to, acquire equipment, make leasehold improvements, purchase recycled raw materials, purchase inventory, and acquire owner-occupied, commercial, real property (limited to $500,000).
Rates, Terms and Fees:
Each eligible business may borrow up to 75% of the cost of a project, for a maximum loan of $2 million. The term of the loan is not to exceed 10 years (15 years if secured by real estate) and amortization schedules are based on the useful life of the asset being financed. Interest rates are fixed for the term of the loan, and are set by the Board semi-annually. The loan rate is usually between 5% or 6%. A loan origination fee of 1/2% points will be charged on each loan. Points are due at the time of closing. The points are an eligible loan expense.