Fayette County has two revolving loan funds available to small business.

• Job creation-oriented loans offer $8,000 to $9,000 in incentives per job created
• Non-job creation-oriented loans

The CDC/504 Loan Program provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation.

For more information on this program, please visit the Small Business Administration website.

The High Quality Jobs (HQJ) program provides qualifying businesses assistance to off-set some of the costs incurred to locate, expand or modernize an Iowa facility. This flexible program includes loans, forgivable loans, tax credits, exemptions and/or refunds.

For more information on this program, please visit the Iowa Economic Development website.

The Iowa Industrial New Jobs Training (260E) program assists businesses creating new positions with new employee training. Eligible businesses may be new to Iowa, expanding the Iowa workforce or relocating to the state.

For more information on this program, please visit the Iowa Economic Development website.

In addition, the State of Iowa New Jobs Tax Credit is a one-time, corporate income tax credit is available to participants in the New Jobs Training (260E) Program. Iowa offers this credit as an incentive for businesses that provide additional training to employees and expand their workforce.

For more information on this program, please visit the Iowa Economic Development website.

All real estate assessed as residential property; assessed as commercial property, if the commercial property consists of three or more separate living quarters with at least 75% of the space used for residential purposes; or assessed as multi-residential property, is eligible to receive a partial exemption from taxation on the actual value added by new construction or improvements. The exemption is for a period of five years and is applicable to the first $75,000 of value added.

For more information on this program as well as the application, please visit the City of Oelwein website.