WHAT WE DO

SEIRPC assists economic development and business groups, cities, counties and local bankers throughout the region with business revolving loan funds as gap financing.  SEIRPC staff are ready and available to make personal visits to meet with businesses and lenders. The RLF complements primary lenders and businesses to retain and create jobs.

HOW WE DO IT

SEIRPC manages nearly $4.0 million in loan capital to serve southeast Iowa. Loan capital is sourced mostly from federal funds. SEIRPC RLF operations are funded through interest payments and loan fees. Staff are available now to discuss your project, idea, or dream to create and retain jobs here in southeast Iowa. 

EXAMPLES OF PAST PROJECTS

SEIRPC staff have been busy over the past couple of years with requests and project funding through the Revolving Loan Fund, along with all the required reports and onsite visits to existing loan recipients. The following are examples of loans that were made in recent years.

• Matt Rinker, State Farm Insurance - SEIRPC approved a $75,000 loan to be used for the purchase of new office furniture, marketing materials, and office supplies as part of their move to a new office building at 2621 Mt. Pleasant Street in Burlington. 

• Buds Truck and Trailer - SEIRPC approved a $110,000 loan to assist in the purchase of the building at 509 Meadows Street in Mediapolis, machinery, equipment, and inventory to relocate and expand his business. 
  
  
• Thyme and Spice - SEIRPC approved a $45,000 loan to be used for equipment, inventory, and working capital for Thyme and Spice to move into a new location to expand their existing restaurant and retail space in Downtown Burlington. 
  

CONTACT

Do you have questions about our program or interested in applying?  Contact:

Zach James, Assistant Director

Email: zjames@seirpc.com

Contact number: 319-753-4313

DID YOU KNOW?

RLF can be used for business acquisition, building acquisition, working capital, and equipment purchases.