Development Corporation of Greater Fort Dodge

The Development Corporation is a non-profit organization established to stimulate and promote business development and expansion in Downtown Fort Dodge by assisting with business development and expansion through low-interest financing in cooperation with local lenders. Since its establishment in 1982, the Development Corporation has awarded over 140 loans totaling over $3 million dollars to new or existing businesses. The flexibility of the Development Corporation allows project to be tailored to the needs of each individual business. Specific programs offering financial assistance include:

• General and Façade Renovation Loans follow the Development Corporation's Policies and Procedures.

• USDA Loan Guidelines

• Forgivable Façade Loan Application and program criteria

 

For an overview of these and other City incentives view the Downtown Financing Brochure.

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Iowa Source Link

Whether a small business owner is looking to start, grow, fund, or even exit their business, IASourceLink is here to help. IASourceLink provides free online webinars, step-by-step guides, and helpful referrals to nearly 400 partners who offer free business assistance. It also houses the Business License Information Center - a centralized database of more than 450 Iowa Business licenses. Visit https://www.iasourcelink.com/ or contact IASourceLink at info@iasourcelink.com or (319) 273-5444 for more information.

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Small Business Administration (SBA) 504 Program

The SBA 504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.

 

SBA 7(a) The 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes.

 

Microloan The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.

 

Patriot Express The Patriot Express Pilot Loan Initiative allows lenders with Patriot Express authority to make offers similar to lenders with SBAExpress authority, but the business owner is more limited. To be eligible to receive a Patriot Express Loan, the business must be owned and controlled (51 percent or more) by eligible veterans and members of the military community who want to establish or expand a small business.

 

Special Purpose Loans Program SBA offers several special purpose 7(a) loans to aid businesses that have been impacted by NAFTA, to provide financial assistance to Employee Stock Ownership Plans, and to help implement pollution control mechanisms.

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Advantage Loan Initiatives Small Loan Advantage and Community Advantage 7(a) Loan Initiatives SBA is committed to expanding access to capital for small businesses and entrepreneurs in underserved communities so that we can drive economic growth and job creation.

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Small Business Development Center (SBDC)

Successful entrepreneurs possess vision, determination and a relentless desire to obtain sound advice from outside experts. The Kirkwood SBDC provides free counseling to entrepreneurs who are planning or operating small businesses. Services available include: One-on-one, confidential counseling by qualified professionals; A variety of learning opportunities, including workshops, classes, online assistance, publications and other resources; Connections to other service providers, federal, state and local resources, sources of capital, and similar small-business assistance. Between 2007 and 2013, the Iowa Small Business Development Centers have Counseled 15,172 clients in 78,690 hours. Trained 24,225 people in 1,782 workshops. For valuable information about the Iowa Small Business Development Centers and their business assistance programs, go to http://www.iowasbdc.org/.

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University of Northern Iowa Business Community Servies (BCS)

In the mid 1980s, the University of Northern Iowa began an external services division to provide resources across Iowa. Over the next decade, UNI leadership and outreach programs devoted considerable time to better understanding local level economic development needs across the state. The outcome resulted in the development of programs addressing specific needs such as community and economic development, entrepreneurship and the environment. In 2000, BCS was created as a single point of contact for outreach—a place for businesses, citizens and entrepreneurs to reach out.

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Currently, 12 programs are housed under the umbrella of BCS and assistance is delivered to the door of clients in all 99 Iowa counties. BCS works with businesses, entrepreneurs, communities, local governments, and nonprofits to provide a wide array of services from marketing research and business incubation, to environmental compliance assistance and economic development. The BCS brand continues to grow to cater to the needs of Iowa businesses providing unsurpassed expertise and knowledge. More information is available at bcs.uni.edu.