The Iowa Valley Resource Conservation & Development is pleased to announce its Rural Business Enterprise Loan program to offer emergency and disaster related assistance to businesses in the presidential, state or locally declared disaster areas of Benton, Iowa, Johnson, Linn, Poweshiek and Tama counties in Iowa. The Revolving Loan Funds was established through a grant from USDA Rural Development with matching funds from Iowa Valley RC&D, Inc.
The Rural Business Enterprise Revolving Loan (RBERL) is designed to assist the six eastern Iowa counties included in the Iowa Valley RC&D, Inc. overcome gaps in local capital markets that inhibit emerging small businesses from obtaining suitable credit and impede economic growth and stability. The initial use of the RBERL will be for Disaster Recovery Assistance and will target businesses in communities of less than 15,000 population and the non-incorporated rural areas in Benton, Iowa, Johnson, Linn, Poweshiek and Tama counties in Iowa. Iowa Valley RC&D will consider RBERL loan applications in 2009 that result in the restoration, clean up, and retention of small businesses in the above six counties based on the following priorities-
Value-added or alternative and/or local food agriculture enterprises
Natural resource based enterprises,
Enterprises providing needed facilities and services to low income, under employed, or the elderly,
Small main street businesses