RLF (Revolving Loan Fund) Programs

The Bi-State Regional Commission manages three different loan programs for the Region - the Bi-State Revolving Loan Fund (RLF), the Mercer-Muscatine County RLF, and the CARES Act RLF. The funds were initially capitalized by the federal Economic Development Adminstration (EDA). The focus of all of the RLFs is the retention and/or creation of jobs. Better paying jobs with benefits allow for more loan funds borrowed per job as shown below:

The loan term is based on the type of project and risk.  Ten years is the maximum loan term, and four years is the minimum.  Loans for working capital will be at a four year term.  Loans for manufacturing and white collar projects are typically considered lower risk, and higher risk projects are those such as restaurants and personal services such as barbers, salons, and beauticians. The lowest interest rate that could be offered is 75% of prime or 4% minus prime, whichever is lower.

For all loans, demonstration of borrower equity in the project is required, and cash equity will result in a better interest rate offered.  Collateral and personal guarantees are required for all loans. It is preferred that RLF funds be utilized to buy equipment, and the RLF collateral would be on that equipment. Construction or renovation of a business is not funded because Davis Bacon and National Environmental Protection Act requirements would then apply due to the federal nature of these funds. EDA will not allow RLF funs to be used for housing projects.

For general questions regarding the RLF Program, please contact Denise Bulat This email address is being protected from spambots. You need JavaScript enabled to view it. or Ricky Newcomb This email address is being protected from spambots. You need JavaScript enabled to view it.. The application form is located on the right side of  this page.

The economic development contacts for the jurisdictions in the loan service area are noted below.  The support of the jurisdiction where the project is located is required. Henry County, Illinois manages their own revolving loan program, and the contact is the Economic Development Director of Henry County, Jim Kelly at  This email address is being protected from spambots. You need JavaScript enabled to view it. (309) 937-3410.