Credit Application Process

1. Complete the online Business Loan Inquiry form at this link or 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 Iowa MicroLoan loan committee and a response will be provided to you as quickly as possible with a decision.

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.

Update:

1. Borrowers may now complete an online application. 

2. Follow the link below to complete a business loan inquiry. Staff will review the request and respond with feedback and next steps. 

   • Business Loan Inquiry Form