Everyone wants to help small businesses – including the Charles City Area Development Corporation and Community Revitalization. They have both contributed $35,000 (for a total of $70,000) to be distributed to Floyd County and Nashua small businesses as short term loans.
Executive Director Area Development Tim Fox says receiving these loans are pretty simple:
As long as your business has 1-30 employees and adheres to all the requirements, your business has the opportunity to receive $3,500 to be paid back in a 6 month period of time with 0% interest.
20 of these loans will be distributed to businesses in Floyd County and Nashua. Fox says he thought it was a good opportunity to help struggling businesses with unknown problems.
Applications may be obtained by telephoning Charles City Area Development Corporation or Community Revitalization of Charles City, Iowa at 641.228.3020 and 641.228.2335, respectively. The application is posted at www.charlescityia.com and www.charlescitychamber.com. Electronic mail contacts are Mark Wicks of Community Revitalization at firstname.lastname@example.org and Tim Fox of Charles City Area Development at email@example.com.
Loans will be secured via Promissory Note and personal and business guarantees, with a streamlined application process designed to get funds to approved businesses as quickly as possible.
Successful applications will be processed on a first come, first served basis, as long as funding is available.