Areas Served: Bondurant, Iowa
In an effort to promote and encourage economic development within the community of Bondurant, Iowa, Bondurant Development, Inc. offers a Revolving Loan Fund to provide financial assistance to new and expanding businesses locating or located in the community of Bondurant.
PURPOSE The Revolving Loan Fund Program is designed to provide supplemental financing in support of new and expanding businesses located within, or locating within the City of Bondurant.
The revolving loan fund will be used by Bondurant Development, Inc. to make loans or loan guarantees for the following purposes: A.
To increase the property tax base in any or all of the community.
B.
To diversify the community’s economic composition by encouraging businesses to locate in Bondurant that have been identified by the community as targeted businesses or businesses that are considered as priority businesses needed in the community.
C.
To increase employment opportunities in Bondurant.
D.
Increase the number and type of businesses in Bondurant.
E.
To offer financial assistance that will promote the retention and expansion of existing businesses in Bondurant.
Type of Assistance – The Revolving Loan Fund will provide direct loans to new and expanding businesses in the community of Bondurant.
The interest rate charged and length of the loan will be determined for each project individually based on demonstrated need.
Loans at no interest are permitted if such an arrangement is determined to be necessary.
In no case will the term of a loan exceed ten (10) years.
The maximum loan allowed to a single business is $10,000. Eligibility – Applications will be considered from many sectors of the local economy.
These include businesses involved in manufacturing, service, or retail operations.
Contact InformationBondurant Development, Inc
Address: PO Box 165
City: Bondurant
State: Iowa
Website:
http://www.bondurantdevelopment.com
Leave a Reply