Funding Amount

Up to 5 years at 0% interest

Deadline

Rolling / Open

Grant Type

foundation

Overview

NWREC Business Disaster Loan Program

Purpose: Provide working-capital assistance to small commercial and industrial businesses impacted by recent flooding events.

Geographic Scope: Sioux, O'Brien, Plymouth, and Ida counties, Iowa

Funder: North West REC (Touchstone Energy cooperative)

Background: North West REC has operated a revolving loan fund (RLF) since 1995 to assist new or expanding businesses. The RLF has been expanded to provide disaster assistance following recent flooding events.

Eligibility:

  • Small commercial and industrial businesses

  • Located in service area (Sioux, O'Brien, Plymouth, and Ida counties)

  • Operations affected by recent flooding event
  • Loan Terms:

  • Duration: Up to 5 years

  • Interest Rate: 0%

  • Principal Deferral: One-year deferral available

  • Use: Working capital needs
  • Contact Information:

  • Phone: (712) 707-4935

  • Email: lkorver@nwrec.coop

  • Mailing Address: P.O. Box 435, Orange City, IA 51041
  • Application Process: Streamlined application process with Loan Review Committee for quick approval and processing.

    How to Apply

    Application Process

    1. Contact North West REC to learn more about the program or submit an application
    - Phone: (712) 707-4935
    - Email: lkorver@nwrec.coop
    - Office: Orange City, IA (Open 7:30 AM - 4:00 PM, Monday-Friday)

    2. Submit application through streamlined process

    3. Application Review by Loan Review Committee for quick approval

    Note: Specific application materials and requirements not detailed in website content. Contact the cooperative directly for complete application package.

    Focus Areas & Funding Uses

    Fields of Work

    small-businessesdisaster-relief

    Categories

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