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Community Lending Fund

Financing For Small Businesses Offered by Iowa Business Growth

Not all businesses meet the qualification requirements for 504 business loan. For those instances, as long as their failure to meet eligibility guidelines isn’t credit related, Iowa Business Growth’s Community Lending Fund can provide the necessary financing. Reasons businesses may not fit traditional 504 loan program guidelines include:

  • Occupancy rate
  • Credit availability elsewhere
  • Lack of meeting one of SBA’s public policy goals
  • Size requirement
  • Franchise eligibility
  • Passive businesses

Borrowers’ businesses need to be based in Iowa and must be working with a qualified bank or credit union in Iowa. If you are interested in applying for financing from the IBG Community Lending Fund, please contact our team.

Contact Our Team

coffee shop owner

Community Lending Fund Loan Criteria

Preference for these loans is given to job-creating entities that:

  • Have a strong cash flow history
  • Are strong guarantors
  • Have adequate collateral coverage (90% LTC is standard maximum)

Loans have a $50,000 minimum requirement and are available up to $1 million, depending on the borrower’s qualifications. Rates and fees are in line with current 504 loan rates and fees. Loans from the IBG Community Lending Fund have a term of 10 years. Amortization will match that available for prevailing 504 loans, currently 25 years maximum. Loans are subject to approval by the Loan Executive Committee.