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Iowa Offering New Small Business Loans For Up To $50,000

Posted: Friday, August 13th, 2010 at 6:26 am

The Iowa Small Business Loan Program is offering up to $50,000 in low interest loans to businesses. Washington County Workforce Development Director Ed Raber says the loan program is for small companies owned by an Iowa resident with less than 35 employees.  The loan has an interest rate of 3.9%, but can be lowered to 2% if at least a third of its financing goes through a local bank.  Raber says the application process should start with speaking to your local banker, and then the closest Small Business Development Center.  The KCII listening area is served by the University of Iowa Small Business Development Center.