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Loan
Programs
MIDAS Loans.
The Maquoketa Industrial Development Assistance Service (MIDAS)
offers loans to qualified applicants for industrial projects. While
loans may vary due to factors such as the availability of funds,
MIDAS loans have ranged into the area of $100,000 for some projects.
Interest rates have recently been in the area of 5%.
City of Maquoketa Loans.
In addition to more traditional economic programs, such as Tax-Increment
Financing, the City may occasionally offer loans to assist in the
development of qualified projects. Loans from the City are always
subject to City Council approval based on factors such as, but not
limited to: the type of project, impact on job creation or job retention,
size of loan, availability of funds for lending, etc. City loans
offer attractive terms and interest rates.
To learn more about applying for MIDAS Loans and
City of Maquoketa Loans, please contact: Brian Wagner, City Manager,
City Hall, 201 E Pleasant Street, Maquoketa, Iowa, 52060, 563-652-2484,
fax: 563-652-2485, email: maqcityhall@caves.net.
Jackson County Revolving Loan Fund.
Jackson County, Iowa operates an independent Revolving Loan Fund.
Loans are made subject to the recommendations of a County Loan Advisory
Committee and the approval of the Jackson County Board of Supervisors.
Loans are typically required to be matched by other types of financing,
such as through a private lender. Loans offer attractive interest
rates. Loan criteria may include factors such as the availability
of funds, job creation/retention, and other factors that might be
deemed as significant by Jackson County.
To learn more about applying for loans from the
Jackson County Revolving Fund, please contact: Jerry Schroeder,
East Central Intergovernmental Association, Suite 330, Nesler Centre,
P.O. Box 1140, Dubuque, Iowa, 52004-1140, 563-556-4166, fax: 563-556-0348,
email: jschroeder@ecia.org.
Downtown Retail Enhancement Loans.
These are loans that are limited to retail stores in Maquoketa's
downtown Central Business District. The loan program is meant to
maintain and supplement the vitality of the downtown retail sector.
Loans are offered in a cooperative effort by two private lending
institutions, Maquoketa State Bank and Mercantile Bank.
To learn more about applying for Downtown Retail
Loans, please contact: Stacy Driscoll, Economic Development Director/Executive
Director, Chamber of Commerce, 117 S Main Street, Maquoketa, Iowa,
52060, 563-652-4602, fax: 563-652-3020, email: maqchamber@qwest.net
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