CITY OF MORRISON
200 W. MAIN STREET
MORRISON, IL
(815) 772-7657





Revolving Fund

Revolving Fund Administrator
City of Morrison
200 W. Main Street Morrison, IL 61270

Phone: (815) 772-7657

The City of Morrison administers a revolving fund that is designed to help businesses that locate, expand, or retain jobs in the Morrison, IL area. The Revolving Fund was established to provide financial assistance, through low-interest loans, to new or expanding businesses located within 1 1/2 miles of the corporate limits of the City of Morrison, Illinois and to secure public benefit for the residents of the City of Morrison by developing a stronger economic base and expanded job opportunities. Other financial commitments must be in place at the time of application. No loan shall be made from the program where there is reasonable doubt as to the ability of the borrower to repay the loan.

Eligible uses of funds for financial assistance projects:
  • Site development / infrastructure extension costs
  • Construction of new facility or additions
  • Renovation of existing facilities
  • Leasehold improvements
  • Purchase of new or used machinery or equipment
  • Working capital
Funds may not be used for:
  • Projects of a speculative nature
  • Forgivable financial assistance projects
  • Refinancing existing, private debt

 

Revolving Fund Pre-Application Revolving Fund Program Summary Project Log Checklist

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