Local government financing can expand access to capital for micro, small, and medium-sized enterprises (MSMEs), but implementation depends on the capacity of public organizations to combine accessible services with financial accountability. This study examines the implementation of a revolving fund program in West Kutai Regency, Indonesia, and identifies its enabling conditions and barriers. A descriptive qualitative approach combined semi-structured interviews, observation, and documentary analysis. Informants were selected purposively from program implementers and MSME beneficiaries. Data were examined through condensation, display, and conclusion verification, using Edwards’ communication, resources, disposition, and bureaucratic structure as the analytical framework. Findings indicate that socialization, staff coordination, applicant assistance, and formal operating procedures supported continued service delivery. However, information outreach was uneven, financing and facilities were constrained, and staff had not received dedicated credit-analysis training. Beneficiaries described waiting approximately two to four months from application to disbursement. Geographic and weather conditions disrupted field activities, incomplete documents required repeated verification, and installment records remained dependent on manual confirmation. The study suggests that procedural continuity and staff commitment coexist with unresolved access and timeliness problems. Implementation improvements should prioritize wider outreach, applicant preparation, stage-specific service tracking, staff development, and integrated payment records. The findings contribute a contextual account of how organizational capacity and territorial conditions shape public financing delivery without establishing causal effects on enterprise performance.