Revolving Loan Program

Low-interest Loan Program

In August 2009, Main Street Momence was awarded a $99,000 USDA Rural Development Grant to established a low-interest revolving loan program. Kankakee County provided $50,000 as the local match for the fund.

Goals of the Main Street Momence Revolving Loan Program are:

To serve as an incentive to further economic development in the downtown core
To serve as a low-interest, gap financing source
To retain employment in the downtown district
To stimulate commercial activity in the downtown district
To provide financing to business owners for a variety of needs, including repairs, equipment, building maintenance and professional fees
To recruit business and create jobs in the downtown commercial district

The Low-interest Loan Program works in tandem with MSM's Facade Grant Program to provide critical funding to our downtown business and building owners. Program specifics include:

Minimum loan amount is $3,000; maximum is $15,000
Interest rate is 3%
Term of loan is 5 years maximum

Get the Revolving Loan Fund Application here.

Results as of 2016

9 loans approved

MSM's Low-interest Loan Program is made possible through a partnership with Midland States Bank.

Questions? For more information on MSM's Low-interest Revolving Loan Program, please visit or contact our office.

Revolving Loan Press Conference

Recent Events

Auctioneer Bill Phelps
April 30th

Community Auction

The Annual Community Auction featured all kinds of treasures that were taken home by their new owners. Auctioneers Bill Phelps and Danny Loftus made sure of that!

Rivard kids on Santa's lap
December 3rd

Christmas Gathering

The annual kickoff for the Christmas holiday featured Santa and his reindeer, camel rides, carriage rides, beautifully decorated store windows, and many more activities. Always a favorite event for Main Street!

Bordertown Hauntings Hayride on Washington Street
October 29th

Bordertown Hauntings

The annual halloween event featured downtown trick-or-treating, both kid's and pet costume contests, hayrides and lots more!

Spotlight

Cruise Night Street Scene

Cruise Nights

2nd & 4th Tuesdays May 23 - August 22, 5-8pm

Next up - After a record-breaking year in 2016, Washington Street Downtown will once again come alive with antique and unique "Cool Cars under the Stars" throughout the summer. The public is invited to come out and browse, listen to the music, eat some great food, and take a chance on the split the pot drawings held at each event. Mark your calendar now!