Information for Entrepreneurs

Entrepreneurial ventures have a dramatic impact on the economy and quality of life of Iowa Falls residents. That is why, if you are thinking about starting a business or growing a new business, the Iowa Falls Area Development Corporation (IFADC) is here to help. We do this by linking you into a variety of strategic partners from across the state to assist with business plan development, financial analysis, product researching, marketing support, and financing. To learn more about assistance opportunities through the IFADC, contact our office.

In addition to assistance through the IFADC, there are many organizations with online tools available to aid you in your new venture. A brief description of these organizations and links into their online tools can be found below.

Iowa Small Business Development Centers

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The SBDC conducts research, counsels, and trains business people in management, financing, and operating small businesses, and provides comprehensive information services and access to experts in a variety of fields. Each SBDC encourages unique local efforts, region to region, state to state, and community to community to meet small business needs in its area.

John Pappajohn Entrepreneurial Centers

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Whether you are thinking about starting a business or growing an existing company, the John Pappajohn Entrepreneurial Center offers business tools and educational opportunities to assist you. From exploring financial resources, business plan development and networking sessions, the staff at the John Pappajohn Entrepreneurial Center are eager to meet with you to discuss your business operation. JPEC is located on the North Iowa Area Community College campus, Iowa State University, and the University of Northern Iowa.

Employers and Job Seekers

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Iowa Workforce Development links job placement and skill development into a system of lifelong learning and opportunity. Through resources and services created for employers, employees, and the unemployed, Iowans can take control of their economic future and the security of their families.

Please see Iowa Workforce Development website at: https://www.iowaworkforcedevelopment.gov/

Iowa Business and Regulatory Assistance Network

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The Iowa Business and Regulatory Assistance Network ensures access and responsiveness to inquiries and requests for assistance from citizens, small businesses, industry and local governments. Business Assistance Coordinators in state government work as a cohesive network coordinating with communities and streamlining service. If you have questions regarding regulations or permitting requirements, contact the IFADC and we can assist in getting answers to your questions. More information regarding the network can be found at http://www.iowaeconomicdevelopment.com/Regulatory/regulatorynetwork

Revolving Loan Funds (RLF’s)

City of Iowa Falls RLF – The RLF is a local funding source with a goal of providing low-interest loans to assist with local economic and community development projects. Priorities include: job creation and retention; diversification of the local economy; improving the skills of rural workforce; and upgrading the public infrastructure to improve the health, safety, and/or medical care of rural residents. Loan amount minimum is $5,000. Interest rates will vary depending on the project’s rating and risk factors, not to exceed prevailing prime rate. Contact Brian Weuve, City Manager, at 641-648-2527 for more information.

Midland Power Cooperative RLF – Low-interest loans in the amount of $5,000 to $150,000 are available to business developers, governmental/public bodies and nonprofit/community development entities for building, real estate, equipment and working capital. Interest rates will not exceed prime, and terms are 10 years or less. The requesting entity must provide at least a 20 percent cash match and appropriate collateral. Pre-development costs, housing projects and refinancing of existing debts are not eligible for funding through this program. Contact Norm Fandel, MPC Regional Manager, at 515-386-4111 or 800-833-8876 for more information.

Region 6 Planning Commission RLF – Region 6 Planning has developed a $300,000 economic development revolving loan fund for new start-ups or existing businesses in Hardin, Marshall, Poweshiek, and Tama counties. Loan funds must be used to create or retain jobs. Applicants must demonstrate the need for the Region 6 gap financing and the ability to repay the debt. The maximum loan award is $75,000, loan interest rate can be as low as 4% apr., Region 6 loan funding needs to be a minor portion of the project budget and no more than 1/3 of the total budget can be from the Region 6 Economic Development fund. Contact Marty Wymore, Regional Director, at 800-417-4699 for more information.

Corn Belt Power Cooperative Fund Programs – Corn Belt Power Cooperative and its member systems provide financial expertise and assistance for business and industry to grow within the region through use of the Joint Venture Loan Fund, Intermediary Revolving Program (IRP) Loan Fund, Interest Buy-Down Program and the USDA Loan Guarantee Program. The IRP Loan Fund has been established to help create jobs and build the rural economy within 25 counties in north central Iowa. Contact Jim Vermeer, Regional Director, at 515-332-2571 x227 for more information.

Iowa Department of Economic Development

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Free, confidential consultation services for any regulatory topic or provide assistance in working with regulatory agencies such as identifying compliance requirements and timing considerations.

Contact the IFADC for assistance.