MASON CITY – A North Iowa agency that works with local governments to promote cooperation says it has loan funds available for businesses looking to grow.
The North Iowa Area Council of Governments said that it fully obligated its Revolving Loan Fund earlier this year, but through repayments, the fund now has approximately $60,000 available for lending.
“If you know of a company in your area that is looking to expand and create new jobs, they may be eligible for funding through the NIACOG RLF program,” NIACOG said in this month’s newsletter.
“This is a great gap financing tool for companies trying to finance an expansion plan. Funding is limited to industrial expansions and applicants must be from the NIACOG eight- county region.”
As recent examples of businesses taking advantage of this revolving loan, this past July, Garner Lumber & Supply Co. recently received funding through the NIACOG revolving loan fund. Garner Lumber & Supply Co. planned to purchase a delivery truck, trailer and a fork lift for the business. The company planned to add three full-time jobs within the next two years.
Also taking advantage was Dimensional Graphics Corporation, of Mason City, which was awarded $115,000 in NIACOG RLF funding in 2012. Dimensional Graphics Corporation acquired the assets of Academy Looseleaf & Bindery of Nashville, Tennessee. With the addition of the newly acquired machinery, Dimensional Graphics was able to add another product to their line, turned edge manufacturing, and also add 20-25 jobs.
On September 1, 2013, NIACOG successfully completed its 40th year of serving the eight-county, sixty-seven city region. “Originally established for the purpose of promoting intergovernmental cooperation and strengthening local units of governments through professional planning, programming and technical assistance, NIACOG has grown into a multi-million dollar agency providing a wide range of services from a first time homebuyer down-payment assistance program to serving as the regional transit provider,” NIACOG said recently.
NIACOG has an annual budget in excess of $5M, and employs over 40 staff.
For more information on the NIACOG Revolving Loan Fund, the NIACOG office can be reached at 641-423-0491.
You know with all this great help for businesses around here from the likes of niacog the edc the city pappajohn center you’d think we’d have lots of small businesses and startups around here but nope not the case why is that?
Because government can’t create jobs. Low taxes and free enterprise does that. The more you make, the more government wants. In Colorado and Washington the gubment wants 55% of all retail pot sales to start. No write offs for canna businesses and the banks won’t even take your money. Looks like old school pot dealing is just gonna continue. No seller wants to pay over half of retail and they’ve made it so the growers can’t even keep their heads above water. They want to get rich on pot money like everyone else.
@SUCKS-you are a freaking IDIOT studying hard to be a moron.