The Bi-State Regional Commission manages three different loan programs for the Region.  Currently there are funds available in the Bi-State Revolving Loan Fund (RLF) and the Mercer-Muscatine County RLF.   There is over $1.1 million in the Bi-State RLF (available to borrowers in Rock Island and Scott Counties) and $440 million in the Mercer-Muscatine County RLF (available to borrowers in Mercer and Muscatine Counties).   Guidelines have been relaxed for both of the RLF’s through April 2021 allowing for the potential of no interest initially for manufacturing, white collar, and service industries and no bank letter indicating a gap in funding.

Bi-State also has received $2.250 million available in a new RLF from the Cares Act that must be utilized or lost before July 2022 with the same relaxed guidelines and priorities.  The maximum loan is $350,000.

The focus on all of the RLF’s is the retention and or creation of jobs.  Better paying jobs with benefits allow for more loan funds per job borrowed as shown below:

Average Wage Rate:                                                                               Created/Retained FTE:

110 % County Average Wage Rate                                                       $20,000

100 % County Average Wage Rate                                                       $15,000

90   % County Average Wage Rate                                                       $10,000

80   % County Average Wage Rate                                                       $  7,500

The average county wages are determined by referencing average wages according to state economic development resources. 

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.  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.

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 'Jim Kelly' This email address is being protected from spambots. You need JavaScript enabled to view it. , the Economic Development Director of Henry County, 309-937-3410.

City of Aledo
City Administrator
(309) 582-7241

Village of Milan
Village Administrator
(309) 787-8507
City of Silvis
City Administrator
(309) 792-9181
City of Bettendorf
Community Development Director     
(563) 344-4060
City of Moline
RLF Administrator
(309) 524-2035
Scott County
Planning & Development Director
(563) 326-8643
City of Davenport
Community Development Director
(563) 326-7765
 City of Muscatine
Community Development Director
(563) 262-4141
City of Wilton
Economic Development Coordinator
(563) 732-5002
City of East Moline
City Administrator
(309) 752-1513
Muscatine County
Planning & Zoning Administrator
(563) 326-8643
All Other Communities
Bi-State Regional Commission
(309) 793-6300 Ext. 1140
City of Eldridge
City Administrator
(563) 285-3911
City of Rock Island
Community & Economic Development Director
(309) 793-2920