Revolving Loan Fund

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.

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

Program Application RLF Brochure

Laura Ostile | Economic Development Specialist

320-289-1981 ext. 102

Laura@umvrdc.org

2017 Revolving Loan Fund

Project Highlights

$245,250

The amount of RLF funds loaded out in FY17

$112,000

Leveraged from the RLF program to the private sector investment for businesses in 2017

44 Jobs

Are expected to be created and retained as a result from the four 2017 loans

$4,739,837

Was leveraged in public and private funding in addition to the RLF funds

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