ECICOG
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COVID Recovery
Business Assistance
Revolving Loan Fund
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Program Contact
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Robyn Jacobson
robyn.jacobson@ecicog.org
Contracts Administrator
​319-365-9941 Ext. 134
This pool of money is provided through the ECICOG Revolving Loan Fund and established by the East Central Iowa Council of Governments (ECICOG) to assist new and existing businesses within our six county region develop and expand, especially those seeking assistance to recover from the COVID-19 pandemic.

​Any new or expanding business in Benton, Iowa, Johnson, Jones, Linn, or Washington Counties can apply. 

Although the maximum loan is $500,000 the average loaned award is $25,000. There is a 10 year maximum on real property loans and all loans are 5-7 year term, fixed asset loans.

Interest rate 0-2% depending on applicant and term will be determined by the RLF Committee and no leveraged money is required. A credit rejection letter is not necessary and for COVID-19 related expenses there is no duplication of benefits. ECICOG can review up to four applications each month. If yours is the fifth or later application, it will be reviewed the next month.
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ECICOG is an Equal Opportunity Lender

Apply for Funding

Step 1: Complete an application and return it to ECICOG. ECICOG staff evaluates application for completeness.
Step 2: Application is forwarded to the loan review committee. Applications received before the last business day of the month will be placed on the next month’s agenda.
Step 3: The loan review committee meets on the last Thursday of each month. The committee evaluates the application and makes recommendations to the East Central Iowa Council of Governments Board of Directors.
Step 4: The East Central Iowa Council of Governments Board of Directors acts on the Loan Review Committee’s recommendation.
Step 5: Approved applications begin the loan closing process. This includes preparation of the loan closing documents and scheduling of a loan closing date.
Application
Program provided with funding assistance from the U.S. Department of Commerce and the Economic Development Administration.
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700 16th St. NE Suite 301
Cedar Rapids, IA 52402
319-365-9941
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Pursuant to Title VI of the Civil Rights Act of 1964, as amended the Civil Rights Restoration Act of 1987 and other nondiscrimination authorities, it is the policy of the East Central Iowa Council of Governments (ECICOG) that discrimination based on race, color, national origin, sex, age, disability or income status shall not occur in connection with any of its programs or activities. For more information on Title VI, or to file a complaint please see the Title VI section here. 
  • About
    • Announcements
    • Employment
  • Our Region
  • Services
    • Facilitation
    • Grant Writing & Administration
    • Project Funding & Management
    • Data Analysis & Mapping
    • Planning & Technical Assistance
  • Program Areas
    • Business Loans >
      • Business and COVID Recovery Loans
      • Cedar Rapids Loan
      • Czech Village/NewBo Loan
      • Cedar Rapids MICRO Loan
      • MedQ Loan
      • Marion Loan
      • Swisher Loan
    • Community Development
    • Environmental Services >
      • Belle Plaine Organics Management Pilot Program
    • Housing >
      • East Central Iowa Housing Trust Fund
      • Housing Fund for Linn County
      • PATCH Program
      • Home Buyers Assistance
    • Transportation
    • Economic Development
  • Documents
  • Funding
  • Contact Us