How do I apply for the Revolving Loan Fund?

First, you must be a resident of Camden, Laclede, Miller or Morgan Counties.

You will need to complete an application. There is a Link on our web page where you can access the necessary documents. You may also set up an appointment by contacting Mike Koenigsman at (573)346-5692 or email mike.koenigsman@loclg.org and a Loan Officer will work with you to complete the application.

What types of business and/or business needs qualify for the RLF?

This loan Fund is primarily geared towards small businesses; whether a new entrepreneur is just getting started, an existing business needs some working capital or a non-profit needs additional funds during this challenging business environment.

Are there any Application fees?

There is not an application fee.

What is the Interest Rate?

The initial Interest Rate is 3% for the first 5 (five) years amortized over a 10 (ten) year period. After the first 5 years, you may pay a balloon payment to clear the loan, or you may re-finance for an additional 5 years at the current rate at that time.

Are there any financing fees?

There is a 1.5% loan Origination fee that can be included in the loan amount.

Can I get multiple – RLF loans for the same business need?

No – the CARES ACT Covid-19 Revolving Loan Fund cannot be used for business needs that already have had financing through a Revolving Loan Fund.

Who services the Revolving Loan Fund?

Lake of the Ozarks Council of Local Governments services all RLF Loans.

How much can I borrow?

  • For Large Capital investments such as new equipment or facilities, loans can range from $5,000 to $125,00.
  • For Working Capital investments, loans can range from $250 to $65,000.
  • Regardless of the loan type, LOCLG will require that a $1 of private funds(investment) to $1 RLF funds leverage ratio is maintained.