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Revolving Loan Fund

The Revolving Loan Fund (RLF) uses capital provided by the Economic Development Administration, Mid-MO Regional Planning Commission (RPC), and local partners for low-interest loans to help qualified businesses locate, expand, or remain in the Mid-MO Region. RLF loans are supplemental; providing a portion of the total needed for a project. The balance must be obtained through conventional sources, i.e. bank financing or equity.

Revolving Loan Fund (RLF)

How RLF Works

The Mid-MO Regional Planning Commission Revolving Loan Fund (RLF) is available to all borrowers and approved by a seven-member board comprised of representatives from throughout the six-county region.

The RLF is designed to provide gap financing targeted to businesses that cannot obtain full financing for their projects through conventional lending channels.

The RLF Purpose

The RLF is designed to work in partnership with the region's commercial banks to provide existing businesses and startups in the Mid-MO region with the full financing needed for their ventures when traditional lending alone is insufficient.

Mid-MO Regional Planning Commission

Available to Private & Public Borrowers

Competitive 
Fixed Interest Rates
Loans Up To
$250,000
10% Injection
From Borrower
Repayment Terms
From 5-20 Years

REVOLVING LOAN FUND (RLF) money in action

  • Working Capital
  • Machinery, equipment and supplies, and leasehold improvements
  • Purchase of land and buildings
  • Building construction, conversion, enlargement, repair, or modernization
  • Tourist and Recreational Facilities
  • Educational Institutions
  • Business/Industrial Acquisitions with job creation and/or retention
  • Business Relocation Expenditures - if necessary to create and/or retain jobs
  • Vehicles - if necessary to create and/or retain jobs
  • Start-Up Costs
  • Reasonable fees and charges related to the loan

Who Can Apply?

Most RLF loans will be made to private, for-profit borrowers. RLF loans may also be used by non-profit entities and public bodies. RLF funds for public projects must be used to retain or create jobs.

How Much Can Be borrowed?

The maximum preferred loan size is $250,000. Loan requests of up to $350,000 must include a letter of support from a local economic development organization.

REVOLVING
LOAN FUND

SERVING

Boone • Callaway • Cole • Cooper • Howard • Moniteau

Equity & Collateral

  • 10% injection from Borrower
  • 30% RLF participation, maximum of 40%
  • 60% Bank participation, minimum of 50%
A request will not be declined solely on the basis of inadequate collateral. However, all available business assets will be taken as collateral to help insure the repayment ability of the loan in the event of default.

Interest rate & Loan Terms

General Terms:

  • 5 years: Working Capital, Inventory, Furniture and Fixtures.
  • 10 years: Machinery and Equipment. Terms will not exceed the useful life of machinery and equipment.
  • 10-20 years: Loans for real property, such as land and buildings. Generally, loans will be for 10 years, but may be amortized over 20.
All RLF interest rates will be fixed. 
The minimum rate is 1% above the prime rate quoted in the Wall Street Journal.

More information

The fund is supported by:

Regional Economic Development, Inc (REDI)
Columbia Chamber of Commerce
Jefferson City Industrial Development Authority
Cole County Commission
U.S. Department of Commerce Economic Development Administration Logo
Made possible by a grand from the U.S. Department of Commerce Economic Development Administration
Mid-MO Regional Planning Commission
Contact
David Bock
Executive Director
davidbock@midmorpc.org
or visit
www.midmorpc.org
573-657-9779
206 E. Broadway 
Ashland, MO 65010
PO Box 140
REDI is a public/private partnership committed to creating jobs by attracting new business, supporting existing business, and growing startups in Columbia and Boone County, Missouri.
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