Areas Served: Dubuque County but outside the City of Dubuque
Revolving Loan Funds are targeted primarily to manufacturers for the purchase of equipment in Dubuque County, Iowa.
The objective of the RLF’s are private sector job creation and capital formation for expansion or start-up projects.
Features include below market interest rates, filling financial gaps, and leveraging private sector funds.
Eligibility – Business owner must be a US citizen or resident alien with a green card – Dubuque County Fund is for businesses within the County but outside the City of Dubuque -Dubuque County requires the starting wage of new jobs to be at 75% of the average county wage – Financing of speculative buildings is allowed under the Dubuque County Fund Loan Amounts – Minimum: flexible at $50,000 – Maximum: $250,000 Uses of Loan Proceeds – Acquisition of machinery and equipment Advantages – Below market interest rates – Provides gap financing – Matches term of loan to life of assets being financed – Meets local match dollar requirement for IDED funding – Creates jobs and wealth – Can be combined with other loan programs like SBA 504
Contact InformationEast Central Intergovernmental Association
Address: 7600 Commerce Park
City: Dubuque
State: Iowa
Website:
http://www.ecia.org/businesses/index.html
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