REVOLVING LOAN FUND

Crown Point Builders in Garner, Iowa was having difficulty obtaining tilt up panels for their home construction business during the pandemic. They decided to take matters into their own hands by purchasing equipment to make their own panels.

This opened up a product line for their company as well. The company purchased a building in Klemme, IA that was sitting vacant to house the operation. This project received $125,000 from the NIACOG Revolving Loan Fund.

Region XII COG assisted Integrated Behavioral Health Services dba Classroom Clinic with a $50,000 loan to create two jobs and expand the business. Classroom Clinic located in Carroll, IA provides school districts with timely and convenient access to children’s mental health services using telehealth and related technologies. Classroom Clinic provides Tier 2 and Tier 3 clinical services where they are not present. Owner Sue Gehling, a psychiatric nurse practitioner, recognized a gap in mental health services for rural youth in Iowa and partnered with school districts to provide needed services to their students in an effective, efficient, and cost-effective manner.

Midwest Realty Group Inc. is a vertically integrated development and real estate sales company. MWRG will offer real estate brokerage, land development, new construction services, rental properties and property management. The SEIRPC RLF committed $200,000 in working capital funds, with Danville State Savings Bank injecting $690,000 into the project for the purchase and renovate an office building at 914 Broadway, West Burlington. 

This location will be the offices for Midwest Realty and design center for Midwest Home Builder. The project will create 11 jobs and retain 3. These jobs will pay wages at and above the market for the region and provide health insurance and 401K savings benefits.

The owner of Sweet Desires, a bakery in Corning, IA, was looking to retire and wanted to either sell or close the business (1 full-time and 4 part-time employees). A gentleman from Pella, IA who had some experience working in a bakery learned of the opportunity.

One of SICOG’s partner organizations, the Adams Community Economic Development Corporation, encouraged him to work with the local SBDC to complete his business plan and to contact Southern Iowa Council of Governments to discuss options.

After a few months, SICOG gave him a loan to purchase the bakery. Sweet Desires received $40,000 from the SICOG Revolving Loan Fund. Today, his business is thriving with new employees, new types of deliciousness and new customers that drive from all over southwest Iowa for his taste treats.

Starting a new business, especially a new restaurant, can be a tall task. Southwest Iowa Planning Council (SWIPCO) was able to give a new sports bar in Red Oak, IA a startup boost. Stadium 34 was started in 2021, taking over a space that was closed during the pandemic.

Owner Rocky Rocha was loaned $150,000 from the SWIPCO RLF to purchase restaurant equipment and furnishings. Rocha said, “We are very happy with the outcome. SWIPCO was excellent to work with and really helped me plan to make this come to life.” The restaurant filled a void for the community and Rocha said they’ve supported him in return, “We want to give area residents dining options and a place to gather.”