Purpose:

To create and stimulate a healthy and sustainable community by stimulating economic activity, successful business development and growth, and job creation for low- and moderate-income residents within the City of Des Moines.

General Eligibility:

MicroLoan funds can be used for business start-up, existing business expansion, or relocation costs including: purchase of equipment and fixtures, inventory, working capital, and building improvements.

• Business with five or fewer employees.
• Evidence of lack of financing alternatives.
• Business located within the City of Des Moines.

Terms and Conditions:

• Maximum loan amount is $10,000.
• Maximum loan term is five years.
• Rate of interest negotiated.

Required Information:

• History of business and description of proposed project.
• Current and historical financial statements.
• Projected financial statements.
  

For additional information, please e-mail OED@dmgov.org or call (515) 283-4004.