Economic Development - Available Funds (RLF)

The Southern Iowa Development Group, Inc’s Revolving Loan Fund (RLF), that is administered by SICOG, was established with grant funds from the U.S. Economic Development Administration to provide financing for industrial activities, start-up businesses, and the expansion of businesses. The goal of the RLF is to assist in the creation of permanent private sector jobs.

The RLF is not intended to duplicate or replace the capacity of banks or other lending organizations, nor will the fund be managed with the same objectives as conventional financing. Funding has been designated to finance primarily industrial activities and start-up and expansion businesses.

Any private developer, development group, city, or county, which is actively involved in an economic development project located in the SICOG area, is an eligible applicant. Eligible loans include, but not limited to acquisition and/or improvement of land, buildings, equipment, fixtures, inventory, and limited working capital.

Eligible projects must submit a pre-application that is reviewed by the Review Committee. Approved applications are requested to submit a full application with a detailed business plan. Approved applications are recommended to the SICOG Board of Directors for funding. A 1.5% application fee is due when the full application is submitted. All closing costs are the responsibility of the applicant.

If you would like additional information, please visit the SIDG page.

For funding criteria and loan terms, please contact Mr. Timothy Ostroski by calling our office at 641.782.8491 or by email at ostroski@sicog.com