WIUM Local
5:51 pm
Mon January 2, 2006

SE Iowa Businesses Could Get Financial Boost

Keokuk, IA – Southeast Iowa businesses could have more access to low interest loans for improvements and expansions. The Southeast Iowa Regional Planning Commission has been operating 2 regional revolving loan funds in Lee, Des Moines, Henry, and Louisa counties for more than 10 years. Executive Director Brian Tapp says the 2 funds total about $1,700,000, though that money has all been loaned out to local businesses. He says the regional planning commission will apply for $600,000 more from the federal government for a 3rd regional fund. To get that money, the local cities and counties in Southeast Iowa would have to provide a $150,000 local match. Tapp says the regional planning commission has already met with several boards and councils to draw up support. He says 36 businesses have recieved the low-interest, short term loans in Southeast Iowa.