2017 Economic
Impact Snapshot


Industrial Parks

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Revolving Loan Fund

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The Kossuth County Revolving Loan Fund was established to encourage local and new businesses to expand.

These loans are provided at a reduced interest rate. The Revolving Loan Fund supports growth of community industrial parks and entices business and industry to expand in Kossuth County.

Kossuth County is filled with “acres of opportunities” – a safe haven to raise our families; recreational facilities with spectacular scenery; a favorable business climate; three Fortune 500 companies; excellent health care & educational facilities and more.

The Revolving Loan Fund will provide up to $50,000 in financing for new or existing businesses or industry to locate or expand in Kossuth County. When the loan is repaid, it replenishes the fund to support other projects. The Revolving Loan Fund will be administered by the RLF Commission and the KCEDC Board of Directors.

What is a Revolving Fund?

Kossuth County’s Revolving Loan Fund will provide up to $50,000 in financing for new or existing business or industry to locate or expand in Kossuth County. These loans are provided at a reduced interest rate.

A Revolving Loan Fund:

  • Supports growth of community industrial parks and/or a county industrial park
  • Entices business & industry to expand or locate in Kossuth County
  • Provides “gap financing”

When the loan is repaid, it replenishes the fund to support other projects.

The Revolving Loan Fund can also work with state and federal grants to help business and industry.

The Revolving Loan Fund will be administered by the KCEDC Board of Directors.

Objectives

  • Encourage existing businesses to expand
  • Foster entrepreneurship
  • Attract new business & industry to our 13 communities
  • Enhance the quality of life with additional tax revenue for public services
  • Increase rural population and local tax base
  • Capitalize on the strengths of our schools, medical facilities, service business and local infrastructure
  • A non-refundable Application Fee is required upon submission of the application.

Purpose

  • Aggressively encourage start-up new businesses and existing businesses to expand.
  • Serve as a partner for available state & federal grants
  • Great way for businesses to build a positive credit history.
  • Excellent for existing expansions on needs for technology, equipment, buildings and working capital for business start-ups.
Revolving Loan Fund Investors
Businesses   Financial Institutions
Elbert Chevrolet
Pharmacists Mutual
Buchanan Law Firm
West Bend Elevator
Aluma
MGP
Kemna Motor Co.
Oakcrest
Prestage Stoecker Farms
AMU
AAED
Erpelding, Voigt & Co. LLP
SBEMCO
Pioneer
3-Utilities
City of Algona
  Iowa State Bank
Titonka Savings Bank
Farmers State Bank
Security State Bank
Farmers & Traders Savings Bank
Bank Plus
State Bank of Ledyard
Farmers Trust & Savings Bank
Corwith State Bank
West Iowa Bank
Citizens CCU
Bank of America
Northwest Federal Savings Bank

Revolving Loan Fund Review Committee

Jim Voigt
Erpelding & Voigt
Algona
Bill Mullins
Security State Bank
Algona
Todd Schwartz
Titonka Savings Bank
Titonka
Don McGregor
Board of Supervisors
Algona
Maureen Elbert
KCEDC
Algona
Craig Deim
Pioneer Sales Representative
Swea City
Jason Wartick
Iowa State Bank
Algona
 

 

 


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Maureen Elbert, Executive Director
Kossuth County Economic Development Corporation
106 South Dodge Street, Suite 210, Algona, Iowa 50511
515-295-7979 | Fax: 515-295-8873
kcedc@kossuthia.com

All text and original graphics copyright © 2010
Kossuth County Economic Development Corporation