Areas Served: Bremer, Buchanan, Butler, Chickasaw and Grundy County
The purpose of the USDA Intermediary Relending Program (IRP) is to alleviate poverty and increase economic activity and employment in rural communities.
Under the IRP program, loans are provided to local organizations (intermediaries) for the establishment of revolving loan funds.
The rural businesses targeted for IRP financing are: – Small manufacturing companies.
– Manufacturing related services.
– Developing services that have a uniqueness or technology that will add value to the District’s economy.
– Other businesses that may help a community improve its development potential.
Generally, retail businesses are not eligible.
Funds can be used to: – Purchase land & buildings – Construct new buildings or renovate/modify existing buildings – Purchase machinery & equipment – Provide for permanent working capital The maximum loan amount is $125,000 and cannot exceed $15,000 per full time job created.
IRP business loan funds are available through the Iowa Counties of Bremer, Buchanan, Butler, Chickasaw and Grundy
Contact InformationIowa Northland Regional Economic Development Commission
Address: 229 E. Park Ave.
City: Waterloo
State: Iowa
Website:
http://www.inrcog.org/econdev.htm
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