Column: NIACOG has resources for local business recovery | Columnists

The North Iowa Area Council of Governments (NIACOG) is a regional planning organization serving Cerro Gordo, Floyd, Franklin, Hancock, Kossuth, Mitchell, Winnebago, and Worth counties.

Last year, our organization was the lucky recipient of a $ 500,000 grant from the United States Economic Development Administration to create a revolving loan fund to help businesses affected by the COVID-19 pandemic.

We have funds available for loans of up to $ 125,000, with terms of 3-15 years for fixed capital, working capital or real estate expenses. These come with 0% interest over the loan term, up to 24 months of deferred payments, and no application or origination fees. For example, a company approved for a 5-year loan would have zero payments for two years before the 5-year loan …

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