RLF (Revolving Loan Fund) Programs

Bi-State Regional Commission manages three different loan programs for the Region - the Bi-State Revolving Loan Fund (RLF), the Mercer-Muscatine County RLF, and the CARES Act RLF. The funds were initially capitalized by the federal Economic Development Adminstration (EDA). The focus of all of the RLFs is the retention and/or creation of jobs.

Loan Amount: The loan amount is individual to each project and is determined based on the type(s) of jobs created or retained, the amount of financing needed, and other factors.  Higher-paying jobs allow for a larger loan amount, per job.  Lower-paying jobs allow for a smaller loan amount, per job.

* Area Average refers to the hourly wage for the MSA. In some cases, it may be feasible to use the average hourly wage rate for the County, depending on project location.

Loan Term. 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 five-year term.  Loans for manufacturing and white-collar projects are typically considered lower risk, and higher risk projects are those such as restaurants, retail jobs, venues, and personal services such as barbers, salons, and beauticians.

Interest Rate. The interest rate is a fixed-rate below prime. Contact Bi-State for the current interest rates.

Other Requirements. Projects served must be supported by the local jurisdiction where they reside. For all loans, demonstration of borrower equity in the project is required. Collateral and personal guarantees are required for all loans. It is preferred that RLF funds be utilized to buy equipment, and the RLF collateral would be on that equipment. Construction or renovation of a business is not funded because federal Davis Bacon and National Environmental Protection Act requirements would apply. EDA will not allow RLF funs to be used for housing projects.

For general questions regarding the RLF Program, please contact Bi-State’s RLF staff:

• Denise L. Bulat, Executive Director
• Lisa Ahern, Community & Economic Development Director
• Ricky Newcomb, Senior Planner

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