- 2013 Projects
- City Zoning Map
- Existing Businesses
- Business Assistance
- Request for Proposals
- Utilities and Telecom
- Owner-Occupied Housing Rehab Application
- More Information
- Location & Shipping
Regional Financial Assistance
Sioux County Revolving Loan Fund
The RLF Funds may be used for the purchase of real estate, buildings, building construction, machinery and equipment, and working capital. Eligible applicants are limited to commercial/industrial projects, as defined by IA Code, Chapter 427B Industrial Property. The maximum financing will be up $100,000, 30% of the total project costs, or up to $5,000 per new full-time equivalent job created, whichever is less. New jobs must be created within 24 months. Loan terms range from 1-10 years (portfolio target of 7 years) and 40-80% of the NY Prime interest rate. Other financing alternatives include a 10-year maximum interest buy-down and/or a loan guarantee.
Northwest Iowa Planning & Development Commission Revolving Loan Fund
The RLF Program is intended to increase quality employment opportunities in the region. The maximum financing will be up to $10,000 per new job created (target is $7,500) or $150,000. A 10% personal or business equity contribution is required. Loan terms range from 1-10 years (portfolio target of 7-years). Interest rate will be 4 points below the Wall Street Journal listed prime rate or a minimum of 4 percent. Other project eligibility and loan fund requirements do apply.
Siouxland Economic Development Corporation
Small Business Administration 7A Program A loan guarantee program whereby a business will borrow financing from a local lender of choice for fixed assets or working capital. The loan can be a maximum of $750,000 with 20% – 50% down payment with terms set by the lending financial institution. The Small Business Administration guarantees the loan.
Small Business Administration 504 Program Direct financing is available from SBA through a local certified development corporation. Rates are fixed for a 20-year term at a rate reduced from bank financing. A total $1,500,000 or 40% of project costs (whichever is less) is available. A minimum 10% down payment is required. New startups require 15%.
Siouxland Economic Development Corp. Revolving Loan Fund (RLF) The RLF can provide up to $100,000 or 25% of the total project costs, whichever is the lesser. A 10% owner’s equity contribution is required. Loan funds can be used for working capital and /or fixed assets. Loan terms must match the life of the assets with interest rates 2% below the primary lender’s rate. The project must create or retain jobs. Processing and service fees and closing costs apply.
SBA Microloan Program A maximum of $35,000 in direct loans is available. Funds can be used for working capital, inventory, furniture & fixtures, machinery and equipment and leasehold improvements. Loan terms are 1-6 years with rates not exceeding 4 percentage points above the prime-lending rate. No down payment or job creation is required. Eligible businesses must meet SBA size standards.
NW Rural Electric Cooperative Revolving Loan Fund
This fund can provide up to $100,000 at a preferred rate to the project if such funds are available. Rates are generally one half of prime rate. Terms vary from five to ten years depending on the use of the funds and the ability to collateralize the financing. Loan amounts vary depending upon the needs of the project but cannot exceed $7,500 for each job created that meets wage thresholds and 20% of the total project cost. All projects must be located within NWREC’s electric service territory to be eligible for funding.