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MicroLoan Program

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Purpose
The purpose of MicroLoans is 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.
  • Businesses must have five or fewer employees.
  • Businesses much provide evidence of the lack of financing alternatives.
  • Businesses must be located within the City of Des Moines.

Terms & Conditions
  • The maximum loan amount is $10,000.
  • The maximum loan term is five years.
  • The rate of interest is negotiated.

Required Information
  • A business history and description of the proposed project
  • Current, historical and projected financial statements

The Process
Our staff will assist business owners and entrepreneurs in determining the types of financial and technical assistance that may be beneficial to their existing or proposed small businesses. When appropriate, business owners and entrepreneurs will be referred to various community partners for technical assistance which may include entrepreneurial training, business plan development, cash flow projections and market analysis.

Our Mission

Our mission is to enhance economic development in the City of Des Moines and the Greater Des Moines area.

Our goal is to make the funding programs we administer straightforward and easy to access.