Areas Served: Jackson County
ECIA Business Growth, Inc. operates the Jackson County Revolving Loan Fund.
The primary purpose of this program is to promote the expansion of Jackson County, Iowa businesses and to create jobs.
Guidelines:n- Targets manufacturing and service industriesn- Goal of one F.T.E. job created/retained for each $50,000 lentn- Limited strictly to projects within Jackson Countyn- County’s participation generally limited to 35% of the projects financial packagen- Uses: Fixed asset projects (land, building and equipment) – Finance working capital only in unusual situationn- Size: Open, but limited to available unencumbered dollars in fundn- Term/Rate: 3-15 years, 4%-8% – Collateral required, lien position may be subordinated to private lendern- Personal guarantee usually required, other security as necessaryn- 1.5% processing fee and legal costs, no servicing feen- Loan negotiation considered, but not an inherent rightn- Positive recommendation of RLF review committee (local bankers) and approval of Board of Supervisors
Contact InformationMaquoketa Area Chamber of Commerce
Address: 117 S Main
City: Maquoketa
State: Iowa
Website:
http://www.maquoketaia.com
Leave a Reply