Scott County Development Corporation, NFP Revolving Loan Fund

The purpose of the Scott County Development Corporation Revolving Loan Fund (RLF) is to provide gap financing and seed money for both existing businesses, as well as, any business wanting to locate in the county. The RLF fund was established in 1964 through investments by local business and community leaders in the Winchester Area Economic Development Corporation. Through successful loans and further investment the RLF has grown to provide both local and new businesses access to funding when no other financing was available.


The Scott County Development Corporation Board of Directors will evaluate each loan application on an individual basis. A majority of the board’s consent is required to approve any loan and the board will establish all terms. Typically, loans are no more than 15 years and the interest rate is based on the current prime rate. Applicants must operate a business in Scott County or wish to relocate within the county.

Eligible uses of funds

  • Acquisition and rehabilitation of real estate
  • Site development infrastructure extension costs
  • Construction of new facility or additions
  • Capital investment for existing business expansion
  • Renovation of existing facilities
  • Leasehold improvements
  • Purchasing, moving, and/or installation of new or used machinery and equipment
  • Working capital, general operating expenses
  • Inventory

Ineligible uses of funds

  • Refinancing or consolidating existing debt
  • Paying off a business’ creditors
  • Purchase or renovation of residential space; new housing construction or income payments for housing or any other purpose (e.g., housing allowance)
  • Funding projects started prior to the loan being approved

Example Projects

The Scott County Development Corporation RLF program was instrumental in bringing several health services to the county. RLF funds purchased a facility to establish a dentist, Dr. Tom Welch, as well as the Winchester Family Practice, an affiliate of Pike County Family Practice. The RLF program also enabled a new owner to purchase the necessary equipment to continue operating the Scott County Chiropractic Clinic. WINCO Inc., a Winchester-based Internet service provider, used the RLF program to purchase wireless Internet equipment to expand its services.

Pat Vandevelde


Scott County Development Corporation Visit the Website

Category: Low Interest Loans, Scott County Incentives

Provides gap financing for existing businesses locally, as well as, out of town businesses wanting to locate in Jacksonville. The RLF was established through funds recaptured from Community Development Assistance Program economic development loans.

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One of six CDC’s formed as part of the U.S. Department of Commerce & Economic Development Administration pilot program in December 1988. The Tri-County CDC was organized to provide gap financing and seed capital loans to retain and create employment in Morgan, Cass, and Scott counties. It is a for-profit corporation consisting of investors from 12 area banks throughout the region, the city of Jacksonville, the Jacksonville Area Chamber of Commerce, and Illinois Rural Electric Cooperative.
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