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Ashtabula County503 Corporation Revolving Loan Funds For Business How the Revolving Loan Fund Works The 503 works in participation with local lenders. Generally the lead bank will loan 50 of eligible project costs the 503 will loan 40 and the borrower is required to contribute at least 10 of the project cost. The 503 can subordinate the collateral position to the participating bank. Use of Funds Purchases of Real Estate Machinery Equipment and Working Capital are typical uses of loan funds.