Revolving Loan Funds (RLF)

Monona County Economic Development RLF

The fund gets its name from the revolving aspect of loan repayment, where the central fund is replenished as individual projects pay back their loans, creating the opportunity to issue other loans to new projects.

RLFs are created for persons or groups of people that do not qualify for traditional financial services or are otherwise viewed as being high risk. Borrowers tend to be small producers of goods and services — typically artisans, farmers, and women who have no credit history or access to other types of loans from financial institutions. Organizations that offer RLF lending aim to help new project or business owners become financially independent and eventually to become eligible for loans from commercial banks.

There are a few Revolving Loan Funds in Monona County. Northwest Iowa Power Cooperative (NIPCO) and Western Iowa Power Cooperative (WIPCO) both have established RLF programs with a goal of providing low-interest loans to assist with local economic and community development projects. The City of Onawa has recently established an RLF account with hopes of spurring economic development within and around the city.

To see more financing options within Monona County, please check out our Incentives page.


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