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 Darrel Steven Carlyle, 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.