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Revolving Loan Fund

REVOLVING LOAN FUND

Business owners may be eligible for a loan through the IECA Revolving Loan Fund (RLF). Eligible projects for loans can include any community or economic development project that benefits the local communities, such as new or expanding private business, non-profits groups, and city or county governments.

Loan recipients may be:

  • New or expanding private businesses
  • Not-for-profit entities
  • City or county governments
Eligible uses of funds:
  • Land purchases
  • Machinery & equipment
  • Fixed assets
  • Buildings

Ineligible uses of funds:

  • Speculation land purchases
  • Payments to owners or equity investors
  • Debt refinancing
  • Projects which lack economic development potential

The RLF Committee will consider the financial need of the project, the probability of success, the benefits of the project to the rural area, including number of jobs to be created or retained, diversification of the economy, quality job creation in terms of pay scale and benefit package, and community development projects and improvements to the community infrastructure.

Loan Amounts - The eligible loan amount will be a minimum of $5,000.00 and a maximum of $300,000.00.

Guidelines - Low-interest loans are available from Intercounty Electric Cooperative to assist with community and economic development projects in rural areas.

Term of Loan - Not to exceed 10 years

Interest Rates - Interest rates are 1% with the interest rate not to exceed the prime rate as published in the Wall Street Journal.

Loan Security – The RLF requires adequate collateral for the loan request which can include requiring mortgages or an irrevocable letter of credit. Other terms or conditions may be required as determined by the Board of Directors.

Other Funding - The RLF project must include a minimum of 20% funding from other sources. Greater leveraging of outside sources will enhance the approvability of a RLF loan request.

 

Please contact Tony Floyd at the IECA Office for more information on loan requirements and terms.

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INTERCOUNTY ELECTRIC COOPERATIVE
P.O. Box 209 
102 Maple Avenue
Licking, MO 65542

Tel: (573) 674-2211
Fax: (573) 674-2985
Toll Free: (866) 621-3679

Business Hours: 
Mon-Fri 8:00 a.m. to 5:00 p.m.

©2021 Intercounty Electric Cooperative. All Rights Reserved

  • Home
  • About Us
    • Board of Directors
    • Management Staff
    • Director's Notes & Statistics
    • Bylaws/Member Handbook
    • Service Territory
    • Annual Meeting
    • Employment Opportunities
    • Statement of Nondiscrimination
    • History
    • Cooperative Difference
    • Contact Us
    • NEWS
    • About Touchstone Energy Cooperative
  • My Account
    • Membership
    • Billing Options
    • Payment Options
    • SmartHub
    • Rates/Fees
    • Establish Service
    • Forms
    • FAQ's
    • Capital Credits
    • Utility Bill Assistance
  • Products & Services
    • GenerLink
    • Surge Protection
    • Weather Radios
    • Rebate Program
    • Business Lighting Program
    • Safety Presentations
    • Co-op Connections Card
    • Community Room
    • Renewable Energy
    • InterConnect
  • Community
    • Economic Development
      • Revolving Loan Fund
    • Operation Round Up
    • Programs/Presentations
    • Youth Tour
    • C.Y.C.L.E.
    • Energy in Today's Classroom
  • Manage Energy
    • Electric Vehicles
    • Energy Audits
    • Rebates
    • Tips/Tools
  • Outages
    • Outage Center
    • Report an Outage
    • Storm Safety Tips
  • Safety
    • Right of Way Maintenance/Field Work
    • Safety Quiz
    • Electrical Safety
    • Call Before You Dig
    • Electrical Safety Demonstrations
    • Safe Electricity
  • Location One (LOIS)