Rural Adams Development Corporation Celebrates 25 Years at Annual Meeting
Adams County, IL – The Annual Meeting of the Rural Adams Development Corporation (RADC) will be held on Wednesday, July 27 at 7:30a in Marie’s Restaurant in Golden, IL.
Established by a group of bankers in rural Adams County, along with Adams Electric Cooperative, Great River Economic Development Foundation and later the Adams Telephone Cooperative, the RADC now celebrates its 25th anniversary!
“Rural Adams Development Corporation was formed 25 years ago by forward-looking Adams County leaders to assist rural businesses.” States Terry Reuschel, President of RADC and President & CEO of Farmers State Bank of Camp Point. “RADC is proud of the cooperative spirit that has allowed RADC to assist many small businesses since then, and looks forward to continuing to positively influence Economic Development in rural Adams County for many years to come.”
The RADC provides low-rate “gap financing” for businesses wishing to start or expand in the rural parts of Adams County, excluding the city limits of the City of Quincy. Since 1992, the RADC has participated in 69 projects, with loans totaling $2,159,631.34. Interested parties may contact any member bank to access to RADC.
Types of assistance provided by the RADC include:
- Seed money, venture capital, or gap financing for which no other resource exists,
- Funding for businesses that lack adequate equity or operating history for conventional loans,
- Investment in projects that need greater owner equity in order to obtain bank or government assistance.
Anyone interested in starting or expanding a business in rural Adams County is encouraged to talk to any RADC participating bank or GREDF. RADC member banks include:
Central State Bank (Clayton) Golden State Bank
Farmers Bank (Liberty & Payson) North Adams State Bank (Camp Point & Ursa)
Farmers State Bank of Camp Point Town & Country Bank Midwest
First Bankers Trust of Mendon
For more information, contact Joi Cuartero Austin at GREDF (217) 223-4313.