The NIACC John Pappajohn Entrepreneurial Center was awarded a Rural Enterprise Grant from the United States Department of Agriculture Rural Development to create a Revolving Loan Fund Program (RLF). This program was designed to assist with new business development or expansion of existing businesses. Matching funds, which were necessary to receive this grant, were provided by NIACC.
Project activities which can be funded with Revolving Loan Funds include, but are not limited to machinery and equipment, furniture and fixtures, startup operating cost and working capital for business startup, expansion activities and technical assistance for private business enterprises.
Small businesses and industries will be defined as employing less than 50 individuals, and revenue less than one million dollars in gross sales annually.
All loans are subject to the availability of funds.