Areas Served: Calhoun, Hamilton, Humboldt, Pocahontas, Webster, and Wright counties, Iowa.
The Revolving Loan Fund (RLF), as established by the MIDAS Council of Governments and the U.S. Department of Commerce, Economic Development Administration(EDA), is designed to encourage new or expanded development activities in the Northcentral Iowa Counties of: Calhoun, Hamilton, Humboldt, Pocahontas, Webster, and Wright.
The purpose of the RLF is to support business activities for which credit is not otherwise available.
It is the intent of MIDAS to work in conjunction with traditional lending institutions to help facilitate a project through gap financing rather than becoming a primary lender.
In addition, MIDAS will not act in a venture capitalist capacity.
By providing financial assistance to development opportunities, the Revolving Loan Fund will bridge the financial gap that exists between owner equity and the amount traditional lending institutions are willing to commit to facilitate the project.
It is not the intent of MIDAS to fund a project that is not supported by a primary loan.
Contact Information
MIDAS Council of Governments
Address: 602 1st Avenue South
City: Fort Dodge
State: Iowa
Website:
https://www.midascog.net/
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