Relaunches Loan Program

Outside German Bank

FOR IMMEDIATE RELEASE
January 1, 2021

Dubuque Initiatives Relaunches Loan Program to Help Dubuque
Businesses Impacted by COVID-19


Dubuque Initiatives is partnering with the East Central Intergovernmental Association (ECIA) and the COVID-19 Business Helpline to relaunch the Dubuque Initiatives Loan Program. The program will authorize the use of $500,000 of Dubuque Initiatives’ funds to provide loans to small businesses existing in the City of Dubuque. Completed applications will be processed within 48 hours, providing our local employers critical funding to weather the storm.

Loans of $10,000 repaid over a three-year period at 1% interest. No interest or fees would be charged to the applicant for the first 6 months after disbursement.


Applicant Requirements:
• Employ 1-50 employees (Sole proprietors are eligible)
• Have a physical location or storefront within the City of Dubuque
Businesses that previously received a loan through this program and non-profits are eligible to apply.

The program will open for application on Monday, January 4th at 8:30 a.m. To apply:
• Call the COVID-19 Business Helpline at (563) 588-3350 between 8:30 a.m. – 4 p.m., Monday
through Friday, or email at sbhelpline@nicc.edu.
• Helpline experts will review available local, state and federal assistance programs, including the Dubuque Initiatives Loan Program, and what information applicants will need to have prepared.
• Once application is complete, processing and disbursement of funds is expected to take place within 48 hours.


The COVID-19 Business Helpline is made possible through a joint partnership established between Northeast Iowa Community College, Greater Dubuque Development Corporation, the Small Business Development Center, and the East Central Iowa Intergovernmental
Association. Any business owner can contact the Helpline to ask questions related to the COVID-19 pandemic regarding federal, state and local funding, unemployment insurance, and compliance with new legislation and best practices.

Dubuque Initiatives is a sustainable, non-profit organization, working as a community partner and catalyst, to undertake challenging projects involving job creation and/or community revitalization that supports a viable, livable, and equitable community.


Media Contact:
Kevin Lynch
President
Dubuque Initiatives
klynch@net-smart.net
563-590-0028