The Town of Alden has joined the Polk County Economic Development Corporation (EDC).
What does this mean for you?
If you are a Town resident and would like to start your own business, you can qualify for a Regional Business Loan up to $150,000 at a 4% interest rate for 7 - 10 years.
This loan has job creation requirements and matching capital investment. It requires a little more financial information, business plan, and future growth projections, but it is a great tool for business expansion. The loan request is submitted to the Polk County EDC Loan Committee. The Polk County EDC is a politically neutral third party that focuses on expansion. The purpose of the Polk County EDC is to encourage and promote economic development and capital investment in Polk County in order to create and retain attractive jobs for a diverse population, enhance our community's tax base, and facilitate positive, sustainable economic growth.
Some of the uses of this fund could include:
1. Vegetable grower wanting put up a "hoop" building and sales stand.
2. Orchard want to buy a new mill & cider press.
3. Grocery store needs a new walk in cooler.
4. Auto repair needs an additional hoist.
These are just a few examples of what you can use this loan for.
The Town of Alden would like to encourage our residents who are contemplating a new business to consider looking at this option.