“Accessing Iowa’s Revolving Loan Funds” Bruce Nuzum Iowa Area Development Group Community Vitality Center Presentation 2005 Entrepreneurship Academy October.

Slides:

Advertisements

Similar presentations

1. Brief History of the REDLG Program A brief history of the program and purpose (1987-to date) The Program was created by Section 313 of the Rural Electrification.

Advertisements

The Phoenix IDA 2012 Arizona Housing Forum October 2-4, 2012 Presentation by: Juan Salgado, Executive Director.

CDAP Economic Development

Jessica Zufolo Deputy Administrator, USDA Rural Development Rural Utilities Service.

USDA Rural Development Business & Industry (B&I) Guaranteed Loan Program.

Why SBA 7a and 504? Access to Capital vs. Incentive Financing 7a Access to Capital (Lender of Last Resort) Business that cannot access conventional financing.

Loan TypeSBA 504Regional 166CDBGChild Day Care Eligible Uses  Purchase of Land &/or Buildings  Purchase of Capital Equipment  Construction  Refinancing*

USDA B&I Loan Program.

USDA Rural Development May USDA RD Our Mission To increase economic opportunity and improve the quality of life for all rural Americans.

Funding Energy Efficiency and Land Conservation Projects Mark Toussaint Grants Manager NH Office of Energy and Planning.

Massachusetts Community & Banking Council Economic Development Committee June 10, 2010.

Capital Access: SBA Financing Options for Your Small Business Presented by U.S. Small Business Administration’s Colorado District Office.

Creating New Opportunities

Visit us at SBA is not a direct lender SBA 7(a) program offers guaranty to lenders –Guaranty is a partial refund for a failed loan –Lender.

Programs. Background The Northern Ontario Heritage Fund Corporation is an agency of Ontario’s Ministry of Northern Development and Mines. The Corporation.

Committed to the Future of Rural Communities USDA Rural Development’s Financial & Technical Assistance Programs are designed to offer Rural America: Affordable.

Community Programs Welcome. United States Department of Agriculture Gregg Delp Director of Community Programs Rural Development Indiana.

200 1 st Avenue NW Mandan, ND Phone Fax EDND 2015 Summer Conference June 25, 2015.

What Does it Take to “Renew Rural Iowa”? Rand Fisher, President Iowa Area Development Group Annual Meeting January 21, 2011.

USDA Rural Development 500 offices 6,000 professionals 40 loan and grant programs 12 Rural Development loan and grant programs that can be used to support.

Housing Assistance Council Building Rural Communities since 1971 Southeast Regional Mutual Self-Help Housing Conference “Other Funding Sources” Wednesday,

managing short term Thinking long term, Connecting Your Community Presented By: Dana Baker Bruce Nuzum

Innovation Strategies Presented to MODE January 2014.

Special Projects Coordinator, USDA Rural Development

State Financing Programs for Brownfield Redevelopment.

1 The Quest for Sustainable Regional Prosperity United States Department of Commerce Julie Lenzer Kirk Director, Office of Innovation and Entrepreneurship.

PRESENTED TO A SSOCIATED B UILDERS & C ONTRACTORS OF C ENTRAL F LORIDA S EPTEMBER 30, 2014.

DCA C OMMUNITY & E CONOMIC D EVELOPMENT February 2014.

Economic Development Finance Service August 24, 2011.

“Access to Capital” Revolving Loan Funds for Entrepreneurship Rand M. Fisher Iowa Area Development Group Community Vitality Center Presentation Entrepreneurship.

Statement of Findings August 30, From February through June 1999, representatives of multi-level public and private sectors convened to explore.

Bolton Economic Development Committee Why? 1.Master Plan, Sustainable Village Center Study (UMass study) refer to economic development. 2.Proactive approach.

Community Vitality Center 2004 Demonstration Project Wright County Entrepreneurial Consortium October 20, 2004.

COMMISSIONER S Jimmy Dimora Timothy F. Hagan Peter Lawson Jones Cuyahoga County Department of Development Investing in the Future Presentation to NASA.

“Shall the City Commission of the City of Vernon, authorize the Business Development Corporation of Vernon to use its Section 4A sales and use tax proceeds.

USDA- Agricultural Marketing Service FARMERS MARKET PROMOTION PROGRAM Minnesota Home Grown Conference April 17, 2009 Errol R. Bragg Director Marketing.

Iowa League of Cities Leave No Stone Unturned: Federal and State Economic Development Programs 2014 Annual Conference – Council Bluffs Dustin Miller Iowa.

OFN / CFED Briefing Dan Betancourt, President and CEO Community First Fund Lancaster, Pennsylvania February 22,

RLF Conference April 10, :30 PM: Track 1: How to Establish an RLF – Subsequent Management Randy Frescoln Business – Cooperative Program Director.

O’Brien County Revolving Loan Fund Investing in our County’s Future.

Georgia Department of Community Affairs.  States have programs to:  Recruit (usually state funded)  Market (federal and state mix)  Develop Products.

RLF Conference April 10, :15 AM: Track 1: How to Establish an RLF – Sources of Funding Randy Frescoln Business – Cooperative Program Director USDA.

Panhandle Area Council, Inc.(PAC) Non-profit Membership organization of local and tribal governments, private sector and industry representatives Structured.

History and Purpose A non-profit corporation established in 1986 by the city of Houston To stimulate economic growth and create jobs for low-moderate.

United States Department of Agriculture Rural Development White House Initiative on Historically Black Colleges & Universities January 21, 2016.

Public Financing Strategies to Leverage Private Investment in Brownfields Hennepin County Brownfield Program USEPA Brownfields 2015 Chicago, Illinois September.

Brownfields 101 Federal and State Role in Brownfields Redevelopment Carol Tucker, Section Chief Brownfields Program US EPA New England.

SBA 504 Loan Program Long Term Fixed Asset Financing For Small Businesses.

Brownfields Redevelopment Financing for Small Cities, Rural Communities And Tribes October 27-29, 2003 Sharon Kophs Washington State Department of Community,

USDA Rural Development Connie Baker Wolfe State Director for Wyoming USDA, Rural Development WyoNAHRO Conference Wyoming Rural Development Programs and.

Revolving Loan Fund Department of Toxic Substances Control Brownfields and Environmental Restoration Program Stewart W. Black Acting Deputy Director Brownfields.

Secretary Kenneth C. Holt Maryland Department of Housing and Community Development Maryland Municipal League Snap Learning: Grant Application Do’s & Don’ts.

South Dakota Office of Tourism. Tourism Budget History State Level Budget Comparison Tourism Impact on Economy Budget Review South Dakota Office of Tourism.

Rural Entrepreneurship Development Program And The National Coalition for Rural Entrepreneurship James J. Zuiches, Professor Dept. of Community & Rural.

Rural Development Business & Cooperative Programs Presented by Brian Queen Community & Economic Development Specialist.

USDA Rural Development Program Overview Brian Queen Community & Economic Development Specialist.

Economic Development Course December 6, 2016

First Connection Opportunity Entrepreneurship Program

Small Business Administration 504 Loan Program

Creative Financing Strategies

AFBF Renewable Energy Conference Golden, Colorado August 17, 2005

Local Government Priorities National League of Cities

Best Practices in Public Policy

Business and Cooperative Programs Specialist

Economic Revitalization and

Northwest Commission Small Business Finance Program Daryl Coyne Manager, Loan Programs John Klinger, Loan Specialist Lori Mild, Loan.

Prestamos CDFI Prestamos is a wholly owned subsidiary of Chicanos Por La Causa (CPLC) and an affiliate of CPLC New Mexico. CPLC is focused on the needs.

Energy and Environmental Committee

Technical Assistance Webinar

Letitia Nichols, Director Bruce Weaver, Specialist

Presentation transcript:

“Accessing Iowa’s Revolving Loan Funds” Bruce Nuzum Iowa Area Development Group Community Vitality Center Presentation 2005 Entrepreneurship Academy October 21, 2005

CVC Entrepreneurship Academy Introduce Iowa Area Development Group Share IADG’s RLF Success Story Explore Iowa’s RLFs Presentation Overview

The economic development organization for Iowa Rural Electric Cooperatives & associated Municipal Utilities. Membership 85 consumer owned utilities

IOWA AREA DEVELOPMENT GROUP “IADG: Powerful Partnerships... connecting people and resources to grow businesses and communities in Iowa!”

Sponsors

Mission Creating & Sustaining An Economic Development Culture Among Member Utilities

Strategy TRAININGTRAINING RESEARCHRESEARCH T A E S C S H I N S I T C A A N L C E MARKETINGMARKETING

Results 507% increase in C&I power sales 388% increase in C&I revenues 73 industrial parks (5,385 shovel ready acres) 56 speculative buildings (1.5 M sq. ft.) 98 USDA awards ($28 million) 31 rural revolving loan funds 1,000 plus projects

IADG’s “RLF Success Story” USDA RD REDG Program USDA RD IRP Program 31 RLFs totaling over $21 million –$214 million private investment –5900+ jobs created / retained

Iowa’s Vast RLF Resources Who Operates RLFs? Councils of Government www. iarcog.com/regions.htm City / County Development Organizations Rural Electric Coops Rural Telcos

Iowa Rural Development Council RLF Survey & Electronic Data Base –Preliminary - 73 RLF Funds –Access, Balance, Term & Contact Information ultimately available at:

RLF Borrowing Opportunities Entrepreneur Responsibility Know the RLF Strategy & Priorities Loan Limits & Terms Available Funds Prepare before you Apply Business Plan Cost Estimates Other Sources of Funds

RLF Borrowing Opportunities Eligible Applicants Eligible Uses of Funds Ineligible Uses of Funds Loan Terms RLF Project Lending

Eligible Applicants New or Expanding Private Businesses Local Governments Non-Profit Community Organizations

RLF Project Lending Manufacturing Service Value Added Agricultural Retail Medical Community Facility

Eligible Uses of Funds Land Purchase Buildings Machinery & Equipment Infrastructure

Ineligible Uses of Funds Pre-development Costs Refinancing Production Agriculture* Housing** *Varies by fund **Limits may apply

Loan Terms (Typical) Amounts: Minimum/Maximum $5,000 to $150,000 Rates: 0 to Prime - Ave 3 - 4% Terms: Based on Collateral Building10 years Real Estate10 years Equipment5 to 7 years Other Funding: % Equity or other Sources

Iowa’s Vast RLF Resources Who Operates RLFs? Councils of Government www. iarcog.com/regions.htm City / County Development Organizations Rural Electric Coops Rural Telcos More Info At: