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Cedar Rapids Revolving Loan Fund | East Central Iowa Council of Governments

700 16th Street NE, Suite 301, Cedar Rapids, IA 52402

Eligibility

Cedar Rapids Businesses within the corporate boundaries of Cedar Rapids

Required documents

A description of the business, a description of the project proposed for financing, a marketing plan that includes analysis of competitors, a balance sheet and income statements for the previous three years, a projected operating statements with notes of explanation for three years into the future, a minimum of three references (banking, professional or trade)

(319) 365-9941
Voice·

Main Phone

Application process

Link to the online application can be found at ecicogrlf.org

Fees

Maximum loan award $50,000 , Interest rate of 4%, term no longer than 10 years

Service area

Cedar Rapids, IA

Helps encourage expansion and growth in the core of Cedar Rapids by providing competitive loans to local businesses currently residing in, or who are willing to relocate to, the flood impacted area. This includes parts of the Downtown District, NewBo, Czech Village, and Kingston Village areas. Businesses who received disaster recover funds following the 2008 floods and residing in Cedar Rapids may also quality for a Revolving Loan Fund.
Last assured

03/10/2026

Providing organization

East Central Iowa Council of Governments

Provides professional planning services to local governments.