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Funding available for small business in Adams County

Published: Wednesday, Aug. 20, 2014 12:47 p.m. CDT

CORNING — Have an idea for a small business? Perhaps you already have one and would like to expand? Do you have a business plan? Perhaps you need assistance to put one together to see if the business is feasible? The Adams Community Economic Development Corporation (ACEDC) and the Small Business Development Center (SBDC) may be able to help make this dream a reality.

The Adams Community Economic Development Corporation has a revolving loan fund (RLF) for a small business that has tried to get conventional financing, but is unable to get all of the funds necessary to start or expand its business. Small business is defined as a business with less than 50 employees who has gross revenues under $1 million per year and must be located in Adams County. The loan can be used for start-up or expansion. It can be used for building purchase, capital improvements, inventory, or other start-up/expansion needs.

The fund has been around for several years with the funds loaned out to various small businesses. Several of these loans have been paid back allowing ACEDC to currently have a pool of money ready to loan out again. The application process requires a business plan.

The SBDC based at Southwestern Community College offers free services to help prepare a business plan and offer other counseling to help you discover if your business plan could be successful in this market area. Contact Dave McLaren at 641-782-1483 or mclaren@swcciowa.edu to set up an appointment. His hours are flexible to meet your schedule.

For more information, to discuss your business ideas, or receive an application, set up an appointment with Beth Waddle, executive director of ACEDC, at 641-322-5229 or acedc@frontiernet.net.

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