RESILIENCE

TOOLKIT

Strategies and actions for business, government, or development organizations to ensure ongoing viability. 

1. SEIRPC Revolving Loan Fund 

Description: The Revolving Loan Fund (RLF) is a loan pool to assist start‐up and expanding businesses. Funds are used as gap financing in conjunction with a primary lender. As payments are made and repaid into the pool, funds are again made available to other applicants. SEIRPC administers regional RLFs with funding from the US Department of Agriculture (USDA) and from the Economic Development Administration (EDA). SEIRPC manages over $2.5 million in loan capital to serve southeast Iowa. Loan capital is sourced mostly from federal funds. SEIRPC RLF operations are funded through interest payments and loan fees. Since 1994, SEIRPC has created or retained over 1,600 jobs in southeast Iowa through regional and local RLF programs. Keokuk and Henry County have their own loan pools to make low interest loans up to for gap financing to qualifying individuals, partnerships, or corporations that want to start a new business. As the payments are made and repaid into the pool, the fund revolves back out to other candidates for the program. More information on SEIRPC revolving loan fund can be found at www.seirpc.com. 

a. Henry County Revolving Loan Fund 

Description: The project must be in Henry County but outside Mt. Pleasant city limits. Projects in the city of Mt. Pleasant are not eligible for Henry County RLF financing.

b. Keokuk Revolving Loan Fund 

Description: The program is specifically targeted toward startup and expanding businesses within Keokuk city limits.

c. SEIRPC small business gap financing program 

Description: Southeast Iowa Regional Planning Commission has funds available to assist small businesses in the region with the economic recovery following the global Covid-19 pandemic. Under this program, SEIRPC small business loan clients may qualify for up to $10,000 in emergency funding. SEIRPC applied for and received $1.65 million in non-competitive EDA CARES Act funds to recapitalize its EDA revolving loan funds. The new EDA loan pool EDA CARES Act funds is known as EDA III - it joins EDA I (capitalized in 1994) and EDA II (capitalized in 2010). The EDA III funds are to be loaned out within a two-year period July 1, 2020 – June 30, 2022, with a zero percent interest in year one of the loan term, one percent interest in year two of the loan term, then as low as 75 percent of the published prime rate in the Wall Street Journal for the remainder of the term. The EDA III loan plan is exactly like the EDA I and EDA II loan plans, except for loan terms.

2. Great River Housing Trust Fund 

Description: Great River Housing, Inc. (dba Great River Housing Trust Fund or GRH) is one of 27 Certified Local Housing Trust Funds in Iowa, certified by the Iowa Finance Authority. GRH was incorporated in 2010 to serve Des Moines, Henry, Lee, and Louisa counties. Great River Housing Trust Fund program is funded by the Iowa Finance Authority, Federal Home Loan Bank, and contributions from local cities, counties, and businesses. The funds are used in southeast Iowa to assist low to moderate income homeowners with rehabilitation or down payment assistance and for developer assistance. Since 2011, GRH has secured over $3.6 million in grant awards to provide housing assistance to either repair and/ or purchase homes. More information on Great River Housing Trust Fund can be found at Southeast Iowa Regional Planning Commission’s website at www.seirpc.com. 

3. Iowa Small Business Development Center 

Description: The Southeastern office of the Iowa Small Business Development Center is in downtown Burlington at River Park Place (610 N 4th Street) and has served Des Moines, Henry, Lee, and Louisa counties since 1989. The center offers a various technical and financial assistance to local businesses such as loan packaging, financial projections, feasibility, and business plan writing assistance; counselors to coach a new or existing business with all aspects of managing a business, from setting up and managing a record keeping system, to marketing and sales. The SBDC also offers a wide variety of business classes including Basic Business Accounting, Writing a Winning Business Plan, and QuickBooks.

4. Reopening your Business Toolkit 

Description: The Reopening Your Business Toolkit is another resource offered by Greater Burlington Partnership and is listed on their COVID-19 resources at https://www.greaterburlington.com/covid19. This toolkit is a great resource to help reopen Southeast Iowa businesses in the post-COVID-19 era. This 48-page free of charge toolkit includes guidance, signage, and customer relations information to help business owners safely and successfully reopen their businesses. This new toolkit assists local businesses to navigate the new normal and ensure the safety of southeast Iowa, providing guidance to safely serve customers and accommodate employees. Some of the features included in the Toolkit are: How to clean and disinfect according to the CDC, Guidance on talking to employees as they return to work, Checklist to reopening business & daily cleaning checklist, and Signage for business.

5. Iowa Workforce Development 

Description: The workforce development system in Iowa is multifaceted and includes public and private training providers that work with individuals of all ages and abilities. They offer several programs to prepare individuals to enter or re-enter the workforce and place them into jobs. Iowa Workforce Development office is in West Burlington and consists of administrative, labor services, workers’ compensation, labor market information, and the unemployment insurance services staff. More information on their resources can be found at their website at www.iowaworkforcedevelopment.gov. 

a. Mississippi Valley Workforce Development Board 

Description: Mississippi Valley Workforce Development Board is a workforce development board and non-profit organization overseeing the workforce services in the eight counties of Jackson, Clinton, Scott, Muscatine, Henry, Louisa, Des Moines, and Lee. Their work is funded through the Workforce Innovation and Opportunity Act (WIOA) and other grant opportunities. They assist businesses in southeast Iowa attract and retain talent as well as train business teams. More information is available on their website at www.mississippivalleyworkforce.org. 

b. Coronavirus Relief Fund Earn and Learn Grant 

Description: Iowa Workforce Development released a Coronavirus Relief Fund Earn and Learn Grant to fund projects that support the creation and expansion of short-term training programs and support services resulting in industry-recognized credentials. The projects serve Iowans whose jobs have been affected by the pandemic. More information about the grant program can be found at www.futurereadyiowa.gov/earn-learn-grants. 

6. Iowa Finance Authority 

Description: Iowa Finance Authority offers several resources and assistance programs to renters and homeowners in the state and southeast Iowa who incurred significant costs or experienced other financial hardship due to COVID-19 pandemic. More information on these programs and resources can be found at www.iowafinance.com. 

a. Iowa Rent and Utility Assistance Program 

Description: This program provides eligible, COVID-19 impacted renters help with rent and utility bills. 8.2 Iowa Mortgage Help IFA also offers free mortgage counseling resources to Iowans who fear they may not be able to make their mortgage payment.