The director of the Iowa Economic Development Authority says her agency has been largely focused on big business expansion projects, but Debi Durham says that’s about to change.
Durham isn’t ready to say how large she’d like the fund to be, but she’s asked the state’s bankers if they’ll manage the loans for businesses in Iowa’s rural communities.
OC….TO THEM :08
Earlier this month, Durham’s agency distributed 24 million dollars in state grants to hundreds of small businesses — but nearly 14,000 business owners had applied.
As she announced the grants that had been awarded, Durham called small businesses the backbone of Iowa communities.
OC….HEARD YOU :12
Beyond the addition of a small business loan fund to the state economic agency’s portfolio, Durham plans to ask lawmakers to financially support other programs aimed at Iowa’s small business sector.
The 2020 Iowa legislative session is currently suspended, but lawmakers must reconvene at some point to at least debate and pass a spending plan for the 12-month state budgeting year that begins July 1st.