The MTRCOG administers the Mark Twain Revolving Loan Fund, Inc.  The Revolving Loan Fund (RLF) program has been designed to provide gap financing to new or expanding businesses, which will induce participation from private lenders.  Loan funds can also be utilized by businesses for retention efforts.  Businesses located in the following counties are eligible for loan assistance:  Audrain, Macon, Monroe, Marion, Pike, Ralls, Randolph and Shelby.

The RLF can provide up to 30% of the monies necessary for a project and has a maximum loan amount of $150,000.  An example is as follows.

Eligible activities include the purchase of land, buildings, construction, equipment, working capital, inventory or machinery.  The loans have a maximum term of ten years and are at a fixed rate based upon the current US Treasury rate (minimum rate no more than 4 points below the current US Treasury rate).  One job must be created or retained for each $15,000 of RLF loan funds requested.  The applicant must provide an origination fee equal to 1% of the loan amount. 

Other requirements include compliance with Civil Rights Laws, handicapped accessibility, and environmental requirements for all loans.  Loans used for construction must comply with Federal wage rates.

The Revolving Loan Fund process includes completion and submission of a thorough loan application with exhibits and attachments and a presentation to the loan review committee.  The Board of directors for the Mark Twain Revolving Loan Fund, Inc. will review the application and make a recommendation for financing.  A Council of Governments staff member will consult with the borrower at least bi-annually to discuss the progress of the borrower and to mitigate any potential problems.

For further information regarding the Revolving Loan Fund, please contact the Mark Twain Regional Council of Governments, 42494 Delaware Lane, Perry, MO 63462.  You may reach the Council at (573) 565-2203 by phone, (573) 565-2205 by fax, or fuquacog@rallstech.com or botkinscog@rallstech.com by email.