• Dec 09, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

The purpose of the Hamilton County Revolving Loan Fund Program is to increase employment opportunities in Hamilton County, Iowa by increasing the level of economic activity within the county.

Description The program provides financial assistance to businesses and industries requiring assistance in order to create new job opportunities or retain existing jobs.

Assistance is provided to encourage new business start- ups, expansion of existing businesses and/or the relocation of businesses into Hamilton County, or the retention of existing Hamilton County businesses with ownership change.

Assistance will be provided in the form of direct loans.

Awards shall be used for legitimate business expenses including, but not limited to: · Construction, purchase of or improvement to land and buildings; · Equipment; and · Working Capital Priority is given to projects that will create or retain jobs, add to the local tax base, add value to Hamilton County resources and/or increase exports out of state.

Preference will be given to those businesses that will create/retain the greatest number of jobs with the least amount of program dollars.

Forms of Assistance The program provides eligible businesses with loans in the form of: · A ratio of 1 full-time equivalent, permanent job created or retained for every $5,000 of Hamilton County funds awarded must be maintained.

· Direct loans will be recommended when the funding request is 30% or less of the total project, and when the project will contribute an immediate, significant amount to the city/county tax base.

· The interest rate shall be 5 percent per annum.

· The term of the loan is typically 5 years with the repayment to start one month from closing.

· Collateral MUST be provided.

· Loans will be considered only if conventional bank financing has been declined for the dollars requested.





Contact Information
Hamilton County S.E.E.D.
Address: PO Box 474
City: Webster City
State: Iowa

Website: http://develop.hamiltoncountyiowa.com/html/commercial___industrial.html

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