NWIPDC Announces Revolving Loan Fund Program

Northwest Iowa Businesses in Buena Vista, Clay, Emmet, Lyon, O’Brien and Sioux Counties: Relief Available After Flooding with Special Revolving Loan Fund Program

Due to the recent flooding that has devastated our region in northwest Iowa, Northwest Iowa Planning and Development Commission (NWIPDC) announces a special Revolving Loan Fund (RLF) program designed to assist local businesses in the affected counties impacted by the disaster. Funding for the program is provided by the Economic Development Administration (EDA) through an existing source of de-federalized business loan funding.

This program allows NWIPDC to offer short-term, signature loans with 0% interest to help businesses cover essential needs such as working capital, equipment purchase and repairs.

Features of the RLF Program:

*           Loan Amount: Up to $20,000.00

*           Interest Rate: 0%

*           Loan Term: Short-term (up to 5 years)

*           Loan Use: Working capital or repairs to flood damage

Eligibility: This program is open to all small businesses in Buena Vista, Clay, Emmet, Lyon, O’Brien and Sioux Counties that have sustained damage from the recent flooding.

How to Apply:  For more information on the program and to apply for a loan, please contact Ted Kourousis at Ted.Kourousis@nwipdc.org.  You can also call the NWIPDC office at 712-262-7225, ext 142.