North West REC created a Community/Economic Development Revolving Loan Fund in 1995 to improve the quality of life in rural areas by contributing to long-term improvement in the local economy. 80% of the funds for the Revolving Loan Fund have come from grants offered through the USDA Rural Economic Development Loan and Grant Program (REDLG) and 20% of the funds from North West REC’s general funds.

As of January 1, 2011, the Revolving Loan Fund has grown to $3.36 million. North West REC has made over $6.28 million in low interest loans to more than 36 projects throughout northwest Iowa.

Bill Menner (center front, right), USDA Rural Development Director in Iowa, recently visited Orange City to recognize North West REC for its dedication to rural economic development in northwest Iowa.

Revolving Loan Fund Brochure
Revolving Loan Fund Application Form

Please contact Lyle Korver at 712.707.4935 or korver@nwrec.coop for economic development information.