Region 6 Revolving Loan Fund
The Region 6 Planning Revolving Loan Fund provides low interest loans and gap financing to assist business and industry with start-up, expansion, or retention. Loans are available for any commercial, industrial, warehouse, office, professional service, or other private economic development needs. It takes a secondary position to primary financing; the maximum assistance per new job created is $10,000. The fund is available in Tama, Marshall, Hardin, and Poweshiek Counties.
Iowa Valley Resource, Conservation and Development Revolving Loan Fund
The Iowa Valley RC&D, Inc. is administering a Rural Business Enterprise Revolving Loan program targeted towards new or expanding small businesses in Benton, Iowa, Johnson, Linn, Poweshiek and Tama counties in Iowa. Funds may be used for acquisition and development of land, easements, and rights-of-way for small and emerging private business start up and expansions; restoration, clean up, construction, conversion, enlargement, repairs or modernization of buildings, plants, machinery, equipment, access streets and roads, parking areas, utilities, and pollution control and abatement facilities; and loans for working capital.
SBA Section 504 Loan:
Maximum Amount: The lesser of $5,000,000 ($5,500,000 in certain situations) or 40% of project costs.
Use of Proceeds: Fixed asset financing (land, building, equipment)
Interest Rate: Fixed for the term of the loan
Term: 10 years for equipment, 20 years for land and building
Typical Package: 50% from Bank, 40% from 504, 10% equity injection
(U.S. Small Business Administration (SBA) Program)
Click here for more information on the SBA 504 Program.