💼 Revolving Loan Fund (RLF) Program
Supporting Business Growth in Western Minnesota
The Upper Minnesota Valley Regional Development Commission (UMVRDC) is proud to offer Revolving Loan Fund (RLF) financing to support business development across Big Stone, Chippewa, Lac qui Parle, Swift, and Yellow Medicine Counties.
Our region is rooted in agriculture and small communities, and we understand the unique challenges businesses face here—from limited access to capital to workforce and population shifts. The RLF is designed to help bridge those gaps and strengthen our local economy.
🚀 What the RLF Can Do for You
The RLF provides flexible, gap financing to help businesses start, grow, and succeed when traditional funding alone isn’t enough.
We support:
- New and expanding businesses
- Business retention and ownership transitions
- Essential local services (grocery stores, restaurants, hardware stores, and more)
- Entrepreneurs and startups, including incubators and co-working spaces
- Disaster recovery efforts (fire, flood, storm impacts)
- Redevelopment of vacant or underutilized properties
Our goal is simple: create jobs, strengthen communities, and diversify the regional economy
💡 Why the RLF Matters
Many local lenders in our region are small and focused heavily on agricultural lending. This can make it difficult for businesses—especially startups and expanding companies—to secure the full financing they need.
That’s where the RLF comes in.
We work in partnership with local banks and other funding sources to fill financing gaps and make strong projects possible.
🏢 Who Can Apply?
Eligible applicants include:
- Private businesses
- Entrepreneurs and startups
- Non-profit organizations
- In some cases, local governments operating business-type enterprises
Projects must be located within the UMVRDC region.
🔧 What Can Be Financed?
RLF funds may be used for:
- Equipment, inventory, and other fixed assets
- Commercial real estate acquisition or improvement
- Working capital
Note: Certain activities are not eligible, including traditional commodity farming, housing development, and ineligible business types.
🤝 How It Works
The RLF is designed as a gap financing tool, meaning:
- A local bank or lender participates in the project
- The RLF helps fill the remaining financing gap
- Borrowers provide at least 10% equity
- Projects should create or retain jobs and support the regional economy
Loan amounts typically range from $50,000 to $400,000, with flexible terms based on project needs.
🌱 Flexible & Responsive Financing
We understand that every project is different. The RLF offers flexible options such as:
- Competitive interest rates
- Customized repayment terms
- Potential payment deferrals (when appropriate)
- Support for high-impact or priority projects
We also periodically target funding toward key industries like manufacturing, childcare, local foods, and emerging business sectors.
📈 Let’s Grow Together
Whether you’re launching a new venture, expanding your operations, or investing in your community, the UMVRDC Revolving Loan Fund can help move your project forward.
📞 Contact UMVRDC today to learn more about eligibility and how to apply.
We’re here to help you turn your ideas into lasting economic impact.
