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Cherryland Electric Cooperative Revolving Loan Fund (RLF)

The purpose of the Revolving Loan Fund is to assist economic development in the rural area served by Cherryland Electric Cooperative.  This will be done by focusing on the creation and retention of jobs in the Cooperative’s service area. 

The Revolving Loan Fund is primarily to be used for capital projects in expanding existing industry or promoting new industry in the service area.  Operating capital loans may be recommended by the Loan Fund Committee. 

Loans from the Revolving Loan Fund are limited to industries expanding in or new industries locating in the service area. 

The Basic Loan Criteria is the creation or retention of one (1) job (full-time equivalent) for every $10,000 provided from the Revolving Loan Fund. 

The Revolving Loan Fund may be used in a junior position at the discretion of the Loan Fund Committee; normally speaking, a first position will be requested when it is available.