Business Loans
Revolving Loan Funds are targeted primarily to manufacturers for the purchase of equipment.
The objective of the RLF's are private sector job creation and capital formation for
expansion or start-up projects. Features include below market interest rates, filling
financial gaps, and leveraging private sector funds. There are four revolving loan funds
operated by ECIA Business Growth:
- ECIA Regional Revolving Loan Fund
- EDA Revolving Loan Fund
- Dubuque County Intermediary Revolving Loan Fund
- Jackson County Revolving Loan Fund
Eligibility
- Business owner must be a US citizen or resident alien with a green card
- ECIA and EDA funds are available to any business in the five-county region
- Jackson County Fund is reserved for businesses in Jackson County
- Dubuque County Fund is for businesses within the County but outside the City of Dubuque
- Dubuque County requires the starting wage of new jobs to be at 75% of the average county wage
- Financing of speculative buildings is allowed under the Dubuque County Fund
Loan Amounts
- Minimum: flexible at $50,000
- Maximum: $250,000
Uses of Loan Proceeds
- Acquisition of machinery and equipment
Advantages
- Below market interest rates
- Provides gap financing
- Matches term of loan to life of assets being financed
- Meets local match dollar requirement for IDED funding
- Creates jobs and wealth
- Can be combined with other loan programs like SBA 504
Recently Approved Projects
Since 1983, approximately 96 RLF loans have been approved representing
financing of over $13,232,533 and resulting in the creation or retention
of over 4,344 jobs.
- $179,000 to Carlisle Ryan Digital Services, Inc. of Dubuque
- $187,500 to Kalot Industries, Inc. of DeWitt
- $187,500 to Summit Building Systems, Inc. of DeWitt
- $255,000 to Eagle Tool Company, Inc. of Dyersville
$809,000 Total for 2005-2006
|
"We are very pleased with our results to date. Our food and beverage revenues are exceeding projections, and our league revenues are 20% higher than anticipated." - Jerry David Co-Owner, Courtside
|
| The combined experiences of Ann Cunningham and
Jerry David have brought an amazing new hot spot to the Dubuque area. Courtside
is the first full-scale sports bar in the Dubuque area and contains 3 indoor
basketball/volleyball courts and 2 outdoor sand volleyball courts. The sports
bar portion covers 9,000 square feet, has 30 televisions, and provides seating
for over 200. The indoor and outdoor courts cover another 17,000 square
feet providing plenty of space for league play, team practice, and sports
camps. This is a total of 26,000 square feet with room for expansion on 3
acres of land. The opening of Courtside only one year ago has created 12
full-time equivalent positions. |
Information and Referral
Special Project Funding
Loans
The
SBA 504 Program is a loan program that ECIA provides in cooperation with the U.S. Small
Business Administration (SBA) and the local banking community. ECIA is
currently providing 10- and 20-year fixed rate loans to businesses. ECIA
will finance fixed assets such as land, buildings, and equipment. ECIA
also operates four
Revolving Loan Funds.
The vision for Iowa's Workforce Development System is to provide an efficient,
effective, and convenient system that helps job-seekers find jobs and assists
businesses in finding skilled workers. This system is also intended to give
job-seekers and employers access to information that will assist them in
developing their career plans or planning for their labor force needs.
Programs
As a partner in Iowa Workforce Development System, ECIA's Employment and
Training Department operates a variety of programs designed to provide
employment and training opportunities for low-income people and other special
groups. The
Workforce Investment Act (WIA)
offers assistance to workers who have been laid off, as well as low income youth and adults seeking employment.
This program also offers financial incentives to businesses who participate in
on-the-job training. In addition, we administer the
Promise Jobs Program
to assist welfare recipients in becoming self-sufficient.
Do you own or operate a business and need quality workers?
We can provide you with job candidates who have been screened, tested, and have the skills
and abilities you are looking for. In some cases, if you are willing to train qualifying
individuals on the job and retain them once their training ends, we can provide a 50% wages
subsidy for up to six months during the training period.
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