Reshaping the Local Economy through a Revolving Loan Fund Program in an Entrepreneurial City

U.S. cities have become more self-reliant in developing and maintaining economic development activities in their communities. Several authors have labeled cities that are aggressively creating economic development opportunities as "entrepreneurial. " One tool used by many entrepreneurial cities is the revolving loan fund (RLF) program. An RLF, properly implemented, requires strategic planning among community leaders, including elected and appointed officials, business leaders, and academics. This article examines the RLF program of Auburn, Alabama, in an effort to isolate those elements essential to its success.