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Nishnabotna Valley REC Revolving Loan Fund

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Revolving Loan Fund

The Cooperative created the Nishnabotna Valley REC Revolving Loan Fund (RLF) to improve the quality of life in rural areas by contributing to long-term improvement in the local economy. Administered by the Nishnabotna Valley REC Board of Directors, priorities include diversification of the local economy, job creation and retention, and upgrading the public infrastructure to improve the health, safety and/or medical care of rural residents.


Eligible Applicants include organizations involved in a community or economic development project that creates or saves jobs and/or provides needed community facilities that benefit rural areas.

Eligible applicants include :
* New or Expanding Private Businesses
* Local Governments
* Non-profit Community Development Organizations


Eligible Uses of Funds

Land Purchases
Manufacturing machinery and equipment
Fixed Assets
Residential Housing Projects (limits apply)

Ineligible Uses of Funds
Refinancing of existing debt
Pre-development costs


The RLF requires adequate collateral for the loan request.

Preferred security is an irrevocable letter of credit. Other acceptable collateral includes a first lien on real estate and/or machinery & equipment.

The maximum loan term is 10 years.

Generally, the length of the loan will be based on project need, expected life of the security, the applicant’s ability to repay, and the terms will not exceed the expected life of the assets being used as collateral.


Minimum Loan $ 5,000
Maximum Loan $ 150,000

RLF projects must include a minimum of 50% funding from other sources.  Greater leveraging of outside resources will enhance the approvability of an RLF loan request.

Rates and Fees

Interest Rates will vary from 0% to Prime Rate depending on the financial need of the project and its benefits to the rural area.  

The RLF may charge an annual administration fee equal to 1% of the outstanding balance of the loan.

To receive an application for the RLF from Nishnabotna Valley REC or to receive more information about the program and to check availability of funds, contact:

Janell Leinen
Nishnabotna Valley Rural Electric Cooperative

PO Box 714
Harlan, IA 51537

This institution is an equal opportunity provider and employer.

USDA PROGRAM RECIPIENT Nondiscrimination Statement:

In accordance with Federal Law and US Department of Agriculture policy, Nishnabotna Valley REC is prohibited from discriminating on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or part of an individual's income is derived from any public assistance program. (Not all prohibited bases apply to all programs.)

To file a complaint of discrimination write to USDA, Director, Office ot Civil Rights, 1400 Independence Avenue, SW, Washington, DC 20250-9410 or call 800-795-3272 (voice) or (202) 720-6382 (TDD). USDA is an equal opportunity lender, provider and employer.