Hannibal Industrial Development Company

The Hannibal Industrial Development Company (HIDC), established in 1952, is designed to provide gap financing to new or expanding businesses, which will induce participation from private lenders. Loans may also be utilized for retention efforts.  Businesses located in the following counties are eligible for loan assistance: Marion and Ralls

As a part of the economic development efforts to support small businesses in Marion and Ralls Counties, area businesses and citizens have purchased stock in HIDC. Those cash contributions are used to establish a Revolving Loan Fund (RLF) for gap financing. The HIDC disburses money in the form of loans at interest rates, which are at or below market rate to small businesses or to businesses that cannot otherwise borrow capital.  As the loans are repaid, the grantee uses a portion of the interest earned to pay administrative expenses and adds remaining principal and interest repayments to the RLF’s capital base to make new loans.

The RLF can provide up to 30% of the monies necessary for a project and has a maximum loan amount of $25,000.00. Eligible activities include the purchase of land, buildings, construction, equipment, working capital, inventory and machinery.

The Hannibal Industrial Development Company administers the loan program by accepting applications, working closely with the HIDC Board of Directors, servicing loans, monitoring the progress of the program and reporting to the HIDC Shareholders.


HIDC Board Members


Chairman – Ryan Rapp, Commerce Bank

Vice-Chairman – John Zimmer, HNB Bank

Secretary – Eric Abts, Hannibal YMCA

Treasurer – Paul Richards, Wade Stables


Bobby Boland, Boland Automotive

J R Derksen, Liberty Utilities

James Lundgren, Mark Twain Boyhood Home and Museum

McKenzie Disselhorst, Hannibal Area Chamber of Commerce

Dr. Anthony Allen, Hannibal LaGrange University

Darin Redd, Commerce Bank

Dick Minor, Retired

Daren Dowell, Chariton Valley (HREDC)

Dr. Jeanette Hill, Retired

C. Todd Ahrens, Hannibal Regional Healthcare System

Deborah Thornburg, P&D Electric, Inc.