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Keokuk Revolving Loan Fund Applications Available

Keokuk, IA – Businesses can now utilize Keokuk's new Revolving Loan Fund to help them add or retain jobs. Keokuk is accepting applications for the program. The city has $199,000 available for new or expanding businesses. Chamber of Commerce executive director, Katie O'Brien, says the fund will help businesses looking to fill in the gaps left as they seek funding from other lenders. She says this is something the business community has been asking for for years. Keokuk's Revolving Loan Fund will grow as businesses begin repayments, with interest and fees included. Each loan application will be reviewed by a special committee and recommendations will be passed on to the city council, which will have final approval. The maximum amount of the loans is $25,000 with interest rates of 5% to 8%.