Download the ECICOG Comprehensive
Economic Development Strategy (CEDS), completed in January 2008.
Information on 2008 flood recovery programs for businesses
In response to the Natural Disasters of 2008, along with the current credit crisis, the East Central Iowa Council of Governments (ECICOG) is accepting applications for the Business Assistance Revolving Loan Fund (RLF). The RLF is initially offered as a partnership between ECICOG, a generous grant from the Washington County Riverboat Foundation, and the Economic Development Administration (EDA). The EDA, a division of the U.S. Department of Commerce, has granted $1.5 million dollars to the East Central Iowa Council of Governments (ECICOG) to establish the fund. To assist in meeting EDA matching requirements, ECICOG received a generous grant of $85,000 from the Washington County Riverboat Foundation.
RLF funds are available to all qualifying for-profit businesses in the six-county ECICOG region and will offer below market interest rates and fixed terms. Initially, a significant portion of assistance provided through the RLF will be for the benefit of businesses and business sectors adversely impacted by the Natural Disasters of 2008. As the region's redevelopment progresses, the RLF will have the opportunity to assist in promoting various economic sectors.
The RLF will make loans to businesses at a rate no less than 4%.
Other terms may vary, depending on the purpose of the loan, which may include working capital, purchase of machinery and equipment, and/or purchase of real property. Initially, a significant portion of the assistance provided may be for the benefit of businesses and business sectors adversely impacted by the natural disasters. However, as the region's redevelopment progresses, the RLF will have the opportunity to support business development and start-up throughout the region.
ECICOG is a public agency that provides planning and technical assistance to city and county governments in Benton, Iowa, Johnson, Jones, Linn, and Washington Counties. ECICOG provides services in housing, solid waste, transportation, and community development. For additional information regarding the RLF or to complete an application, contact Tracy DeKoter at (319) 365-9941 ext. 130.