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Revolving Loan Fund

Business owners may be eligible for a loan through the ECI REC Revolving Loan Fund. Eligible projects for loans can include any community or economic development project that benefits the rural area, such as new or expanding private businesses, non-profit groups, and city or county governments.

Loan recipients are not required to take electricity service from East-Central Iowa Rural Electric Cooperative.

Eligible Loan Recipients

  • New or expanding private businesses

  • Not-for-profit entities

  • City or county governments

Eligible Uses of Funds

  • Land purchases

  • Machinery and equipment

  • Fixed assets

  • Buildings

Ineligible Uses of Funds

  • Speculation land purchases

  • Payments to owners or equity investors

  • Debt refinancing

  • Projects that lack economic development potential

The Loan Review Committee and the ECI REC Board of Directors consider the financial need of the project, the probability of success, and 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).


Please contact ECI REC CEO Teresa Floyd by calling 877-850-4343 for more information on loan requirements and terms.


Loan Amounts - The eligible loan amount will be a minimum of $5,000 and a maximum of $300,000.

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

Term of Loan - The term will not exceed 10 years.

Interest Rates - Interest rates will vary from project to project, with the interest rate not to exceed the prime rate as published in the Wall Street Journal.

Loan Security - The Revolving Loan Fund requires adequate collateral for the loan request, which can include requiring mortgages, liens, and/or personal guarantees. Other terms or conditions may be required as determined by the ECI REC Board of Directors.

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

Administrative Fee - Generally, a loan service fee will be charged, not to exceed one percent per year on the unpaid balance of each RLF loan, plus attorney fees incurred by East-Central Iowa Rural Electric Cooperative in connection with the loan.

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2400 Bing Miller Lane

PO Box 248

Urbana, IA 52345

Toll Free: 877-850-4343

Fax 319-443-4359

Email: ecirec@ecirec.coop

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©2025 East-Central Iowa Rural Electric Cooperative. All Rights Reserved.

  • Account Services
    • Account Management
      • Manage Your Online Account
      • Payment Options
      • About Your Bill
        • Bill Sample
        • Terms on Your Bill
        • Rates
        • Avoid Late Fees & Disconnects
      • Service Calls & Charges
      • Start Stop Transfer Upgrade
      • Patronage Dividends
      • Avoid Peak Hours
    • Member Services
      • Member Programs
        • Co-op Connections Program
        • Helping Hand Reminder
        • Notify Landlord Before Disconnect
        • Power Boost Gift Certificate
        • RECare Program
        • Support Iowa Renewable Energy
      • Outdoor Lighting
      • Member Information Update Request
      • Keep Your Bill Affordable
      • Energy Assistance (LIHEAP)
      • Terms & Conditions (Tariff)
      • Tree Trimming
      • How Electricity Reaches You
  • Manage Energy
    • Save Energy & Money
      • Rebate Forms
      • Residential Heat Rate
      • Electric Vehicles
    • Smart Electrification
      • Renewable Options
        • On-Site Generation Facilities
        • Support Iowa Renewables
      • Smart Technologies
        • AMI & Smart Meters
        • View My Usage
      • Beneficial Electrification
    • Electric Efficiency Resources
      • Heating & Cooling
      • Water Heaters
      • Lighting
      • Use Energy Wisely TSE Site
      • Quick DIY Energy-Efficient Tips
      • Energy Calculators & Resources
      • ECI REC's Commitment to Energy Efficiency
  • Outages & Safety
    • Outages
      • Outage Center
      • If an Outage Occurs
      • ECI REC Outage Map
      • Iowa Electric Co-ops Outage Map
    • Safety
      • Call Before You Dig-811
      • Damaged Electric Facilities
      • Backup Generator
      • Grain Bin Safety
      • Electric Safety Resources
        • Electric Safety & Outage Tips
        • Safety Videos
  • Community & News
    • Youth/Community Program
      • Scholarships
      • Iowa Youth Tour - Washington, D.C.
      • Iowa Youth Leadership Academy
      • Safety Education
      • Community Reinvestment Fund
      • Revolving Loan Fund
    • News & Resources
      • Newsletters
        • Member Newsletter
        • eNewsletters
        • Iowa Electric Cooperative Living
      • Bill Inserts - Power Notes
      • Literature, Brochures, and Guides
      • News & Media Inquires
      • Resources and Assets Library
  • The Cooperative
    • Legislative Hub
      • Iowa Grassroots Networks
      • National Grassroots Networks
    • Cooperative Difference
      • Co-op Advantage
        • The Non-Profit Advantage
        • Democratic Governance
        • Co-op Membership
        • Guiding Principles
      • Annual Meeting of Members
      • Member Survey
    • About Your Cooperative
      • About ECI REC
      • Service Territory Map
      • Your Board of Directors
      • Management Team Directory
      • Touchstone Energy® Co-ops
      • Where's the Power Come From
      • Statement of Nondiscrimination
      • Careers