Loans and Business Support Available for African American Owned Businesses

Loans and Business Support Available for African American Owned Businesses

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Amelia Lobo, Director of Lending, Iowa Center for Economic Success

If you own a small business, you know how hard it is to obtain funds for your business. We are here to help! We offer loans up to $50,000 for established businesses and $30,000 for businesses with less than 6 months of operations. Interest rates range from 3% to 10% and we do not charge any fees.

As Director of Credit and Lending at the Iowa Center for Economic Success, I have the privilege of working with numerous business owners who are growing their businesses.

Loans can be used to hire a new employee, invest in inventory or your business space, build a new website, buy equipment or better manage cash flow. We help each of our clients understand their personal credit, review their financials, and determine whether a loan is the best option for their business. We consider that the loan is only part of our work on behalf of each business; our other goal is to help business owners make good decisions.

If you are interested in applying in a loan through our program, our commitment to you is

1-      To clearly explain the process and how we make our decisions

2-      Provide honest feedback about your likelihood to obtain a loan

3-      Help you become a certified Targeted Small Business

4-      Make loan decisions as quickly as possible

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In addition to offering loans, we offer business education and we can help you understand how to strengthen your personal credit, financials and business in preparation for a loan with us or another lender. If you’d like to learn more, please contact us at info@theiowacenter.org. You can also reach us at 515.283.0940.

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