Revolving Loan Funds
The NIACC JPEC
Revolving Loan Fund (RLF) was designed to assist
with new business development or expansion of
existing businesses. It is the goal of the RLF
to provide job creation or job retention as a
result of the loan. Project activities
which can be funded with Revolving Loan Funds
include, but are not limited to: machinery and
equipment, furniture and fixtures, startup
operating cost and working capital for business
startup, expansion activities and technical
assistance for private business enterprises.
Revolving Loan Funds cannot be used to
produce agriculture products through growing,
cultivation and harvesting. Applicants with the
greatest anticipated economic impact for the
community will receive the greatest priority.
Applications are available from the NIACC JPEC, Small Business
Development
Center, or the North
Iowa Business Accelerator. All completed
applications will be reviewed by a loan review
committee within 30 days of receipt. Applicants
will be formally notified of approval,
contingency approval, or denial within 10 days
of review. There is a $100 application fee.
For more information about the NIACC JPEC loan fund:
For more information about local/county revolving loan funds, contact your
local/county economic development agency
(See Partners and Links).
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