• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / News / Millions in federal funds approved for business loans in 62 Iowa counties

Millions in federal funds approved for business loans in 62 Iowa counties

July 16, 2020 By Radio Iowa Contributor

Ten Iowa organizations are splitting just over $13 million in federal grants, to be distributed as loans to small businesses and entrepreneurs who’ve taken a financial hit during the pandemic.

Rick Hunsaker is executive director of the Region XII Council of Governments, which is getting a $2 million grant for a revolving loan fund. “We all know that our friends out there that own businesses on Main Street are having a tough time. We all want them to survive. We all know that we’re going to come out of this on the other end, but we have to hang together to be able to do that,” Hunsaker says. “Hopefully, this fund will be able to lend somewhat of a hand to those that need it.”

Hunsaker got confirmation of the federal grant yesterday and is hoping the funds are available by September 1.

“Hopefully some of our businesses that either don’t have bank financing available or that’s just not going to cash flow in their business model or they’ve accessed the PPP funds…through the federal government and they still need some additional help to keep the doors open and people employed, that’s really where we expect these funds to be used,” he says.

Hunsaker’s organization will be able to loan the money to businesses in Carroll and five surrounding counties. The other award winners can distribute loans in 56 other counties.

The other grant recipients are as follows: $4.675 M to East Central Iowa Council of Governments based in Cedar Rapids; $1.65 M to the Southeast Iowa Regional Planning Commission in West Burlington; $1.529 M to the Southern Iowa Development Group in Creston; $550,000 to the Iowa Northland Regional Economic Development Commission in Waterloo; $550,000 to the Mid-Iowa Development Association Council of Governments in Fort Dodge; $550,000 to the Mid-Iowa Development Fund in Polk City; $550,000 to the North Iowa Area Council of Governments in Mason City; $550,000 to the Southwest Iowa Planning Council in Atlantic; $549,831 to the Upper Explorerland Regional Planning Commission in Postville.

(By Chantelle Grove, KCIM, Carroll; Radio Iowa’s O. Kay Henderson also contributed to story)

Share this:

  • Facebook
  • Twitter

Filed Under: Business, News

Featured Stories

Exhibit features lesser known works of Grant Wood

Testing finds 21 new CWD cases in deer

It may become a crime in Iowa to use fake urine in workplace drug tests

February trending 18 degrees below average temperature

Iowa House Education Committee votes to end tenure at UI, ISU, UNI

TwitterFacebook
Tweets by RadioIowa

Iowa’s Jack Nunge lost for the season

Key stretch begins for #9 Iowa

Drake’s Roman Penn lost for the season

Drake’s DeVries named to Naismith watch list

State wrestling opens with limited attendance

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 ยท Learfield News & Ag, LLC