AEDC Revolving Loan Fund

The Appanoose Economic Development Corporation Revolving Loan Fund (RLF) is a program established for the purpose of promoting the continued expansion and retention of the County’s commercial and industrial base.

The program consists of two categories:

Small Business Assistance Program

Designed to assist small businesses who need a minimal amount of financial assistance. This program can be used for retail and service businesses, among others. There are no minimum job requirements for the Small Business Assistance Program. The maximum loan amount is $5,000.

Jobs For Appanoose County Program

Designed to assist small to medium sized businesses, and requires a minimum of 5 jobs be created or retained to access this program. The maximum loan amount is $50,000.

Small Business Development Center (SBDC)

The SBDC conducts research, counsels, and trains business people in management, financing, and operating small businesses, and provides comprehensive information services and access to experts in a variety of fields. Bryan Ziegler, Director of the SBDC at Indian Hills Community College, can assist in a variety of ways. Most often a person wanting to start a new business works with Bryan as a first step. They work cooperatively to draft a business plan, a precursor in many cases for getting financial assistance from a local bank, loan or grant program. Bryan can be reached at (800) 726-2585, ext. 5127.

Regional SBDC information can also be found at: www.iowasbdc.org/regional-centers/ottumwa.aspx

Regional Assistance Programs

Appanoose County is part of a regional revolving loan called Regional Economic Development Investments (REDI). Two short-term, low interest loan programs, REDI and Self Employment Loan Program (SELP) provide solid gap financing, project start-up or expansion assistance. Information about these programs can be found at: www.area15rpc.com/programs/programs.htm

State of Iowa

The Iowa Department of Economic Development provides a Business Project Review Form that can be completed by a business then sent back to Iowa DED and reviewed by staff. This will determine all possible programs that might be of assistance to the business. This form can be found at: www.iowalifechanging.com/applications/bus_dev/default.aspx

Appanoose County also has a strong partnership with the Iowa Area Development Group. Additional programs can be found at www.iadg.com

Lending Institutions

Centerville has several reliable banking institutions and credit union. They are:

Iowa Trust & Saving Bank (www.itsb-iowa.com)

US Bank (www.usbank.com)

Farmers Bank of Northern Missouri (www.onlinefarmersbank.com)

Community 1st Credit Union (www.c1stcreditunion.com)

Resources and Forms

Business Plan Guide

RLF Loan Application

Appanoose County Financial Assistance Programs

Starting a Business

Appanoose County is a great place to start a business. More than 65% of the commercial, retail, and professional businesses here are independently owned. Below is a list of assistance programs and resources available.