Main Street Development
This national pilot project hosted by Preservation Iowa is designed to support small business entrepreneurs that locate and grow within selected historic commercial districts by working with local lenders. The pilot project involves the Main Street Iowa districts of Bloomfield, Charles City, Greenfield, Iowa Falls, Sac City, and Valley Junction in West Des Moines.
Preservation Iowa, which is Iowa's statewide nonprofit dedicated to enhancing the state's economic and cultural future through the preservation of Iowa's historic resources, has partnered with Iowa MicroLoan, a statewide microloan intermediary; the National Trust Loan Fund from Washington DC, and Main Street Iowa of the Iowa Department of Economic Development to create the national pilot project.
This pilot will operate for one year exclusively within these designated communities to evaluate its utilization and effectiveness. If it is successful, it will be expanded to other Main Street Communities and the lessons learned will be made available to assist other Main Street Programs who are interested in establishing similar programs in other states.
Loans up to $50,000 are available for businesses located within a designated Iowa Main Street district in:
- Charles City
- Iowa Falls
- Sac City
- West Des Moines
The business must have 10 or fewer employees and must collaborate with local financial institutions.
Download the brochure
What can Main Street
Development do for you?
Our loans can help you...
- start a business
- expand a business
- refinance a business from credit cards
- finance a unique piece of equipment
- increase working capital for your business
- interior renovations
- access entrepreneurial technical assistance
- access historic preservation technical assistance
- co-finance with a local lender
Enhancing Your Future
We offer you the opportunity to start-up or expand your small business and provide up to $500 per year in technical assistance grants to assist you in your business development. Main Street Development Loan Fund interest rate is 7.5% APR with a term of up to 6 years. Our rate allows us to serve smaller entrepreneurial loan clients and provides incentives for technical assistance while creating a collaboration between the local Main Street program, the local lending institution, and the businesses within the Main Street district.
Realizing Your Dream
Iowa was built on the dreams of thousands of people owning their own business and being able to sustain a good quality of life for their family. Communities all over Iowa were formed and grew around their historic commercial districts. Thriving businesses within these districts can once again be home to business owners, residents, and shoppers.
Owning your own business is a life-long dream that can become a reality for many people when they do their homework and take the right steps toward building a solid foundation. We can sustain our communities by demonstrating sound economic development through historic preservation.
Initial Main Street Development Loan Fund Partners
- National Trust Loan Fund
- Iowa Foundation for Microenterprise and Community Vitality
- Iowa Department of Economic Development/Main Street Iowa
- Preservation Iowa