ECIA Business Growth

A regional response to local needs

7600 Commerce Park
Dubuque, IA 52002
800-942-4648 (Iowa Only)
563-556-4166


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Loan Programs



Economic Development Administration Revolving Loan Fund


The EDA Revolving Loan Fund supplies up to $250,000, to purchase fixed assets and targets manufacturing, high tech, and service industries located in Cedar, Clinton, Delaware, Dubuque, and Jackson Counties.


Eligible Projects


Fixed-asset acquisition or expansion including:

• Purchase of land and/or construction of new buildings
• Purchase and/or renovation of existing buildings
• Acquisition/installation of machinery or equipment
• Financing of working capital in special situations


Advantages


Low down payment - as little as 10%. Allows the small business owner to preserve critical working capital


Flexible term - flexible, but typically 7 year terms


Low interest rate - generally 4%


Lending Parameters


$250,000 Maximum project size


1.5% processing fee and legal costs, no servicing fee


Goal of 1 Full Time Equivalent (FTE) position created for each $65,000 ($100,000) lent within 2 years


Collateral required, lien position may be subordinated to private lender


Personal Guarantee usually required, other security as necessary


Approval of the E.C.I.A. Business Growth, Inc. Board of Directors


 


Click Here to Download PDF Brochure


Click Here to Download Loan Application