Black Hawk Economic Development, Inc

Black Hawk Economic Development, Inc.(BHED) is a non-profit economic development organization that provides economic development assistance for business start-up, expansion, and/or retention projects. The organization was founded in 1978 in response to the challenging regional economic climate of the late 1970’s and 80’s. It has since evloved into a multi-faceted economic development organization steeped in tradition and poised to meet the challenges of the 21st century economy. Black Hawk Economic Development, Inc. offers two loan programs that provide financial assistance to small businesses in the State of Iowa. The SBA 504 Loan Program is an economic development program designed to facilitate capital investment and job creation and/or retention. Eligible projects include acquisition of fixed assets, building improvements, and equipment with a minimum useful life of 10 years. Long-term (up to 20 years), favorable fixed interest rate financing is available for up to 90% of the cost of a qualifying project. The two Revolving Loan Fund (RLF) Programs that provide financing at favorable interest rates to facilitate small business startups, expansion and/or retention projects. RLF financing is typically subordinate to bank financing and makes up the "gap" or short-fall in the required equity portion of a project. Eligible uses of funds include fixed assets acquisition and working capital.