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UMVRDC

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Revolving Loan Fund

Cares Act Funding

Preventing, preparing and responding to the coronavirus pandemic in the UMVRDC Region 6W
    • Finance business start-ups and expansions with 0% interest rate for the first 24 months, and a fixed interest rate as low as 75% of the prime interest rate for the remaining years. Can finance working captial, fixed assets and inventory, real estate, etc. These funds are available for a limited time.

Application CARES Act Funding Brochure

Lori Tostenson   |   Loan Officer
320-289-1981 ext. 102
lori@umvrdc.org

April RLF Meeting

2020 Revolving Loan Fund

Project Highlights

$357,100

The amount of RLF funds loaded out in 2020

$2,149,680

Other public & private funding

27.5 Jobs

Are expected to be created and retained

$1,724,703

Total investment funds

Providing access to affordable capital through gap financing for business start-up or expansion

The UMVRDC Revolving Loan Fund is designed to provide gap financing for business and industry starting up or expanding in the five-county region of Big Stone, Chippewa, Lac qui Parle, Swift and Yellow Medicine. The primary focus of the program is manufacturing and industrial-related businesses that will create or retain jobs.

RLF BrochureChippewa ProjectsLQP  ProjectsSwift ProjectsYellow Medicine Projects

Eligibility: Must be located in Big Stone, Chippewa, Lac qui Parle, Swift or Yellow Medicine Counties.

Types of Activities Financed

  • Business start-ups or expansions with priority given to manufacturing, technology and/or diversification of the local economy.
  • Non-profits are eligible for financing but must meet all other lending requirements.
  • Commercial/retail activities must fulfill a local need for essential goods and services and not be in direct competition with a similar business

Key Lending Objectives

  • Job Creation – 1st priority
  • Job Retention – 2nd priority
  • Create or retain full-time livable wage jobs
  • Encourage private sector investment
  • Support diversification of the regional economy
More RLF Videos

REGIONAL EXAMPLES

Madsen Family Chiropractic

Granite Falls Woodworks

The three owners of the Dryer Doctors holdling a UMVRDC RLF sign.

The Dryer Doctors

Montevideo

Owner of Krave Wellness posing in her gym with teadmilles, bikes, and elipticals in the bakcground.

Krave Wellness

Canby

Owner of Go Fasters posing in his store with snowmobile helmets in the background.

GoFasters Powersports & Marine

Ortonville

SEWearable Designs

Appleton

After Five Supper Club

Madison

DoMat’s Family Foods

Benson

Hilltop | Bar, Grill & Event Center

Dawson

Al’s Mercantile

Dawson

Our Mission

Enable the region to thrive through assisting local units of government.

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UMVRDC Logo. A good flying in a beige circle. Blue and tan font that reads: Upper Minnesota Valley Regional Development Commission.

323 West Schlieman Ave

Appleton, MN 56208

320-289-1981
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