IowaMicroLoan Program

IowaMicroLoan is a program created to help Iowans realize their goal of achieving business success when there is a solid idea, team, and commitment to make it work. IowaMicroLoan was created for those microbusinesses that are considered on the fringe of risk-bearing capacity for most traditional financial institutions. The IowaMicroLoan program was created by the Iowa Foundation for Microenterprise and Community Vitality (IFMCV). 
IowaMicroLoan offers Iowa Residents:

• Financing for start-up, expansion and refinancing of Microbusinesses in Iowa
• Financing of loans of $5,000 up to $35,000 for a six year term
• Co-financing with a local lender or loan pool up to $105,000
• Credit approval within 10 working days of receiving a complete credit application and business plan
• Technical Assistance grants up to $500/client/year
• Local team building assistance to help you succeed
• The ability to improve your credit score through IowaMicroloan reporting

Have you used the Iowa MicroLoan program in your business? ?
What was your experience?
Is this a topic you want to know more about through the New Iowa Entrepreneur's Coalition?
Check out their web site http://iowamicroloan.org/ and give me feedback through this blog or through the NIEC web site.