Iowa Microloan

Credit Application Process

  1. Download the Iowa MicroLoan Credit Application and Financial Workbook from our Resources Page

  2. You may submit the Credit Application & Financial Documents electronically to Iowa MicroLoan (jwilliams@iowamicroloan.org), but any pages requiring your signature must have the original signature page mailed to us.

  3. Mail the signed copies of the Credit Application, Financial Documents, Business Plan and all attachments to:

    Iowa MicroLoan
    Jeff Williams
    915 8th Street, Suite 205
    Boone, IA 50036

  4. The Loan Administrator will review the application and contact you with any questions in regards to the application.

  5. Once the application is complete, it will be reviewed by the IowaMicroLoan loan committee and a response will be provided to you within 10 working days from our notification telling you if your application was approved.

  6. Quarterly balance sheet and income statements are required.

  7. An annual review of your business performance and technical assistance plan will be scheduled and any priorities for change are to be discussed at that time.

  8. Upon signature of all loan documents and the technical assistance action plan, the funds will be deposited to the business account designated for your application.

  9. Loan Payments will be electronically debited from your bank account in accordance with your loan payment schedule.

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