Beginning March 23, 2020 Decatur County Development Corporation (DCDC) will be accepting applications for its newly reallocated Revolving Loan Fund (RLF). Applications may be obtained by contacting Shannon Erb, Executive Director, via email at serb@dcdciowa.org, or phone call or text message at 641-442-6511. Businesses applying for the DCDC-RLF must be a small or emerging business with fewer than 50 employees and less than $1 million in gross revenue. Types of businesses that may apply are Sole Proprietorships, Partnerships, and Corporations.
Emergency Microloans are available with the following specifications:
- Business must be located in Decatur County, Iowa.
- No less than $1, no more than $2,000 loan made to any single business.
- Interest rate of 0%.
- Repayment timeline of up to 2 years, with initial payment deferred up to 6 months.
Items to be financed may include but are not limited to:
- Utility payments.
- Rent/lease payments on building or equipment essential to business operations.
- Existing debt for which default would cause loss of essential business supplies.
- Essential personnel payroll.
Businesses interested in this program must:
- Complete an application as provided by DCDC.
- Provide up to 3 years of tax returns (if available).
- Provide up to 3 years of profit and loss statements for the business (if available).
- Provide current financial statement.
- Provide copies of expenditures to be paid with RLF funds.
- Provide substitute documents if those above are not available, upon approval by the Executive Director.
For more information and to obtain an application contact Shannon Erb, Executive Director, via email at serb@dcdciowa.org, or phone call or text message at 641-442-6511.