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  • Cedar Rapids Revolving Loan Fund

    Agency: East Central Iowa Council of Governments

    Helps encourage expansion and growth in the core of Cedar Rapids by providing competitive loans to local businesses currently residing in, or who are willing to relocate to, the flood impacted area. This includes parts of the Downtown District, NewBo, Czech Village, and Kingston Village areas. Businesses who received disaster recover funds following the 2008 floods and residing in Cedar Rapids may also quality for a Revolving Loan Fund.



    • East Central Iowa Council of Governments
      Main Phone: (319) 365-9941
      Fax: (319) 365-9981
      700 16th Street NE
      Cedar Rapids, IA 52402
      Directions



    Agency: East Central Iowa Council of Governments

    Languages Available: English

    Fees: Maximum loan award $50,000 , Interest rate of 4%, term no longer than 10 years

    Intake: Print the application at www.ecicog.org/revolving-loan-funds, call Robyn at 319-365-9941 ext.134 with questions

    Eligibility: Cedar Rapids Businesses that currently reside, or are willing to relocate to , the flood inundation zone, businesses that received disaster recovery funds following the 2008 floods, residing anywhere in Cedar Rapids

    Documents Required: A description of the business, a description of the project proposed for financing, a marketing plan that includes analysis of competitors, a balance sheet and income statements for the previous three years, a projected operating statements with notes of explanation for three years into the future, a minimum of three references (banking, professional or trade)

    Hours: Mon-Fri 8 am-4:30 pm

    Areas Served:
    • Cedar Rapids, Linn County

    - Disaster Recovery Services



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