Norfolk Area Revolving Loan Fund

The Norfolk Area Revolving Loan Fund (RLF) will be used to provide financial assistance to small and emerging private business enterprises within the guidelines of the USDA approved revolving loan fund plan.


Building robust and sustainable economies throughout all of our rural communities is our primary objective. The RLF will promote economic development activities in a rural area, help spur job creation and retention, and ultimately support our rural workforce.



Planned projects to be financed may include but not limited to:

  • Project / business to be assisted by the RLF program typically must be physically located within Madison, County, NE.  On a case by case basis, the Loan Committee may waive this requirement and provide loan funds to a business located outside Madison County if the committee determines doing so will have a positive economic impact on the community to be assisted with RLF funds and written approval has been granted by USDA Rural Development.

  • Acquisition and development of land, easements, and rights-of-way.

  • Construction, conversion, enlargement, repairs or modernization of buildings (including façade repairs), plants, machinery, equipment, access streets and roads, parking areas, utilities, and pollution control and abatement facilities.

  • Loans for startup operating cost and working capital.

  • Technical assistance for private business enterprises.


Limitations on loans from the RLF:

  • RLF funds will not be used to produce agriculture products through growing, cultivation, and harvesting either directly or through horizontally integrated livestock operations except for commercial nurseries, timber operations, or limited agricultural production related to technical assistance projects.

  • RLF funds will not be used to finance comprehensive area-wide type planning.  This does not preclude the use of grant funds for planning for a given project.

  • RLF funds will not be used to fund a part of a project which is dependent on other funding unless there is a firm commitment of the other funding to ensure completion of the project.

  • Loans will not be made unless there is a reasonable prospect that the applicant meets the definition of “small and emerging private business enterprises" defined as "any private business that will employ 50 or fewer new employees and has less than $1 million in projected gross revenues."  If the grantor changes its definition of small and emerging business as defined by the Rural Business Development Grant regulations, the grantee reserves the right to utilize the amended definition without further approval from the grantor.

  • At least 51 percent of the outstanding interest in the applicant must be owned by those who are either citizens of the United States or reside in the United States after being legally admitted for permanent residence.

  • Applications to any Board member, loan review committee member, officer, general manager, or supervisory employee of the City of Norfolk or close relative thereof, or to any City of Norfolk subsidiary or affiliated organization in which City of Norfolk has a financial interest shall be ineligible for funding.

Eligible Applicants include:

  • Corporations

  • Limited Liability Companies

  • Partnerships

  • Sole Proprietorship