Revolving Loan Fund

Two Revolving Loan Funds were established to aid in identifying business opportunities by providing technical assistance to existing or start‐up businesses. Through these funds Belmond is able to support the creation of jobs and assist with capital investment. Belmond Growth Alliance primarily focuses on industrial‐type loans with a Capital Assistance Program (CAP) being provided for industrial businesses through the Growth Alliance. Belmond Growth Alliance also places focus on service, retail, and commercial type loans with the Retail Assistance Program (RAP).

  • Below market interest rate on a per‐request basis
  • Repayment periods of 1 to 10 years
  • Revolving Loan program should not be considered as primary funding.
  • Program will provide up to 30% of fund sources
  • Location of the business must be within one (1) mile of Belmond City limits
Wright County Economic Development has a program that provides financial assistance to various business types and industries. Loans are considered for new business start‐ups, expansion and/or relocation of existing businesses within or into Wright County, and the retention of existing Wright County businesses with ownership change. Funds are awarded to projects that will retain or expand job opportunities within Wright County.

  • Maximum loan of $150,000 for any entity or affiliated entity
  • Wright County provides no more than 75% of total sources and should not be considered as primary funding
  • Interest rate charged can be up to 5%
  • Preferred ratio of one permanent job created/retained for every $10,000 awarded
Mid Iowa Development Association Council of Governments has established a revolving loan program with the US Department of Commerce and the Economic Development Administration to encourage new or expanded development activities in the counties of Calhoun, Hamilton, Humboldt, Pocahontas, Webster and Wright Counties. Funds can be used for fixed assets financing, building, equipment, inventory loans, renovation, construction or refurbishing of plant and equipment.

  • This fund is seen as gap financing rather than becoming primary lender
  • Usually providing less than 10% of a project loan (maximum of 15%)
  • Priority will be granted to industrial activities with commercial activities being funded if money is available
  • Interest rates are usually below published prime rate

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