Areas Served: Delaware, Dubuque, Jackson, and Jones counties as well as portions of Buchanan, Cedar, Clayton, Clinton and Linn counties.
The Cooperative has established a revolving loan fund (RLF) to improve the quality of life in rural areas of the Iowa counties of Delaware, Dubuque, Jackson, and Jones counties as well as portions of Buchanan, Cedar, Clayton, Clinton and Linn counties by contributing to long-term improvement in the local economy.
The RLF is a local funding source with a goal of providing low interest loans to assist with local economic and community development projects.
Our priorities include job creation and retention, diversification of the local economy, improving the skills of the rural workforce and upgrading the public infrastructure to improve the health and safety of rural residents.
This fund is administered by the Cooperative’s Board of Directors.
A minimum of 20% of the project must be funded from equity or debt sources other than the RLF.
Loan amounts must meet minimum ($5000) and maximum ($200,000) limits.
Interest rates will not exceed the prevailing prime rate and terms will vary based on collateral offered up to a maximum of 10 years.
Contact InformationMaquoketa Valley Electric Cooperative
Address: 109 N Huber
City: Anamosa
State: Iowa
Website:
http://www.mvec.com/programs-products/development
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