Areas Served: Shelby County
The Shelby County Growth Assistance Program (GAP) Revolving Loan Fund provides supplemental financing to small and medium-sized businesses located in, or to be located in Shelby County, Iowa.
Eligible projects must either create or retain jobs.
Program funds may be used for most aspects of start-up or expansion projects and, in some cases, may include needed working capital.
Funds cannot be used to refinance existing debt or subsidize payments on existing debt.
The primary consideration for financial participation with GAP is the creation and retention of Jobs.
To qualify for loan assistance, a minimum of three full time equivalent jobs (FTE) is required.
Under certain circumstances, application creating or retaining less than three FTE jobs may be given consideration for loan assistance.
These jobs must be either newly created jobs or jobs to be retained, and must be maintained during the length of any loan assistance and cannot come at the expense, or in lieu of, other jobs that the borrower is currently providing.
Because the GAP is funded with a combination of local, state, and federal funds, borrower must comply with all local, state, and federal requirements.
The application form was designed to adhere to state financial assistance programs and may be amended easily to apply for state financial assistance.
Contact InformationShelby County DevelopSource
Address: 1901 Hawkeye Ave, Suite 101
City: Harlan
State: Iowa
Website:
http://developsource.com/gap_loan_fund.html
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