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 maintainin g economic development activities in their communities. Several author s have labeled cities that are aggressively creating economic developm ent opportunities as ''entrepreneurial.'' one tool used by many entrep reneurial cities is the revolving loan fund (RLF) program. An RLF, pro perly implemented, requires strategic planning among community leaders , including elected and appointed officials, business leaders, and aca demics. This article examines the RLF program of Auburn, Alabama, in a n effort to isolate those elements essential to its success.