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 29th

Community Auction

A great time was had by all with River Valley Auctioneers Bill Phelps and Danny Loftus accepting bids on all sorts of treasures.

Cruise Night on Washington Street
May - August

Cruise Nights

Washington Street Downtown once again came alive with antique and unique "Cool Cars under the Stars" throughout the summer. The public came out to browse, listen to the music, eat some great food, and take a chance on the split the pot drawings held at each event.

Carolers performing at the Graham House
December 2nd

Christmas Gathering

This annual Holiday event features the downtown brimming with Holiday Cheer - with special guest Santa and his reindeer, camel rides, horse-drawn sleigh rides, craft shows, and lots more activities for young and old alike. Beautifully decorated store windows in the theme "Christmas Blessings" and the community Christmas Tree warmly welcome visitors to this Momence Holiday Tradition.

Spotlight

Bordertown Haunting Hayride

Bordertown Hauntings

Saturday, October 27th

Next up - Main Street's Annual Bordertown Hauntings features a wide variety of activities, including downtown trick-or-treating, pumpkin and cookie decorating, Children's and pet costume contests, magic show, spooky storytelling at the library, Halloween songs with Farmer Ron at the Farm Museum, and more. Join us in Historic Downtown Momence from noon-4pm for a great, family-friendly day.