Areas Served: Ames county, Iowa
The City of Ames, Iowa Revolving Loan Fund was developed to provide for a local match for various state financial assistance programs.
The purpose of the loan is to assist area businesses in expansions and relocation.
The program was designed for gap financing with city loan representing no more than 15% of total financing.
The emphasis is on the projects that expand the tax base and create quality jobs.
Loans are typically made for five years at 1/2 of prime.
The maximum amount of any one loan is $50,000. Generally, awards are between $1,000-$2,000 per job created.
Applications can be made at any time.
Loan applications are reviewed by a revolving loan fund committee and subject to Ames City Council approval.
Contact InformationAmes Economic Development Commission
Address: 1601 Golden Aspen Dr, Suite 110
City: Ames
State: Iowa
Website:
http://www.amesedc.com/en/business/financial_assistance/
Leave a Reply