USDA Revolving Loan Fund Workshops

Written by Theresa Rose on January 1, 2015

USDA Rural Development Presenting Series of Revolving Loan Fund Workshops Around Iowa January 12 – 30 Workshops to Provide Tips on Best Practices to Establish, Manage and Market Funds

DES MOINES, Iowa – December 31, 2014 – Bill Menner, USDA Rural Development State Director in Iowa, today announced that agency staff will be presenting nine workshops in January to help rural community leaders establish, manage and market revolving loan funds. The workshops will be held from January 12 through January 30 in the following communities: Algona, Carroll, Creston, Hiawatha, Iowa Falls, Mount Pleasant, Orange City, Oskaloosa and Postville.

Revolving loan funds are established through a variety of USDA loan and grant programs and are a great way to assist with small business development in rural Iowa. Funds are made available to intermediaries which are typically rural electric cooperatives, regional council of governments or local economic development groups. The intermediaries make loans to small businesses and as the loans are paid back, the money is then re-loaned to other businesses.

“Helping to establish revolving loan funds is an important way USDA Rural Development helps improve economic opportunities across the state,” Menner said. “There is no limit to the number of businesses that can be assisted as these funds are continually revolved and lent back out.”

USDA Rural Development provides funding to various revolving loan fund administrators through its Intermediary Relending Program, Rural Business Enterprise Grants and Rural Economic Development Grants. Last year more than $2.3 million in loans and grants were provided to rural organizations to help establish revolving funds.

Since 2009 more than 700 rural small businesses accessed more than $70 million from the 145 revolving loan funds assisted by USDA Rural Development in Iowa. These loans helped rural small businesses in a variety of ways including the purchase of equipment, real estate and expansions.

Revolving Loan Fund Dates and Locations
All workshops start with registration at 8:30 a.m. and a program beginning at 9 a.m. and concluding by noon. Please call (515) 284-4663 with any questions about the workshops.

January 12 – Creston
Southwestern Performing Arts Center, 1501 W. Townline Street, Room 1501 RSVP – Marybeth Foster, mbfoster@iastate.edu

January 14 – Algona
Kossuth/Palo Alto Economic Development Corp., 106 S. Dodge Street, Suite 210 RSVP – Marybeth Foster, mbfoster@iastate.edu

January 15 – Mount Pleasant
Heatilator Civic Center, 2nd Floor Meeting Room, 307 E. Monroe Street RSVP – Marybeth Foster, mbfoster@iastate.edu

January 15 – Postville
YMCA, 313 West Post Street
RSVP – Ashley Goltz, agoltz@uerpc.com

January 28 – Orange City
Iowa State Bank, 105 Albany Avenue SE
RSVP – Marybeth Foster, mbfoster@iastate.edu

January 28 – Oskaloosa
Smokey Row Coffee, 109 South Market Street RSVP – Marybeth Foster, mbfoster@iastate.edu

January 29 – Carroll
Region XII Council of Governments, 1009 E. Anthony Street RSVP – JoAnn Olberding, jolberding@region12cog.org

January 29 – Hiawatha
City Hall, 101 Emmons Street
RSVP – Gina Peters, gina.peters@ecicog.org

January 30 – Iowa Falls
ISU Extension & Outreach Office, 524 Lawler Street RSVP – Marybeth Foster, mbfoster@iastate.edu

USDA Rural Development’s funding continues to have a dramatic impact on rural communities across Iowa. Since 2009, USDA Rural Development has invested more than $3 billion on essential public facilities, small and emerging businesses, water and sewer systems, and housing opportunities for Iowa families.

This past year USDA Rural Development’s investment in Iowa helped create or retain more than 1,000 jobs, aided 2,600 families in buying their own homes and assisted more than 60 communities as they made improvements to their facilities, services and infrastructure.

“We are known as the USDA mission area that can help build a community from the ground up,” Menner added. “Our investments are helping make rural communities places where people want to raise their children, open businesses and live for years to come. If you have an idea on how jobs can be created in rural Iowa, or how a rural community can improve the quality of life experience for their residents, give us a call today.”

For more information about finance programs available through USDA Rural Development, please call (515) 284-4663 or visit www.rurdev.usda.gov/ia . USDA Rural Development has 11 offices across the state to serve the 1.7 million Iowans living in rural communities and areas. Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.

USDA Rural Development is working with rural communities to create jobs, expand opportunity, encourage innovation and build a strong foundation for the future. The agency currently administers and manages more than 40 housing, business and community infrastructure and facility loan and grant programs designed to improve the economic stability of rural communities, businesses, residents and farmers and improve the quality of life in rural America.

President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values.