70 Pageviews Read Stories
- EIN 42-1359539
- (641) 684-6551
- Po Box 1110 Ottumwa IA 52501-7110 USA
- Add to Favorites
Promote This Nonprofit
Nonprofit Overview
Causes: Economic Development, Urban & Community Economic Development
Mission: Administration of a revolving loan fund. Our mission is to provide loans to businesses in the area by issuing gap financing in order to leverage loans from banks and grants from the state. Our objective is to use these loans to increase the employment base in the area.
Programs: We closed no new loans this fiscal year, in addition to servicing the other loans outstanding. Additionally, many contacts were made with potential new industries. We provide gap financing to assist companies in obtaining loans from banks and grants from the state. With these loans, we require a certain number of jobs to be created, depending on the size of the loan, and a surcharge is assessed if the employment goals are not met.