Sheldon, Iowa — The Sheldon Chamber & Development Corporation has been approved for funds that will help attract new businesses, or expand existing businesses.
Sheldon Development Director Curt Strouth says the SCDC has been approved for access to an additional $500,000 for Sheldon’s Revolving Loan Fund, or RLF.
Strouth says Sheldon borrows the funds at a one-percent interest rate, then loans them through the RLF at a three-percent rate. He says that’s how Sheldon grows its local RLF.
He tells us the additional funds will help attract new businesses and expand existing ones.
Strouth says the Revolving Loan Fund is used for what he calls “Gap Funding.”
If your business would like more information on Sheldon’s Revolving Loan Fund, Strouth says there are several ways to get it.
If you’d like to talk with Strouth directly, you can contact the SCDC Office at 712-324-2813.
