BUSINESS ASSISTANCE PROGRAMS
Regional Economic Development Investments, Inc. (REDI)
REDI Inc. is an affiliate organization of the Area 15 RPC in that the RPC staff provides administrative oversight of the program. REDI Inc., a non-profit corporation formed in 1990, provides low-interest loan for business/industry retention, expansion and start-up activities. REDI funds are available for fixed asset and/or working capital loans for activities that create new or retain existing jobs within the Region.
Since the program's inception, $6.8 million RLF dollars have been loaned and over $50 million in additional funds invested.
Recent REDI Loans
-Fizzix Manufacturing $210,500 REDI loan to retain 9 jobs and create 1 new job in Bloomfield
-Seals Meat Locker $154,000 REDI loan to create 5 new jobs in Centerville
-RMA Armament $270,000 to create 11 new full-time jobs in Centerville
-Oskaloosa Manufacturing $250,000 REDI, $0 other/private, 3 new full-time jobs/7 retained manufacturing jobs in Oskaloosa
-Kelderman Manufacturing $250,000 REDI, $280,000 other/private, 6 new full-time jobs/4 retained manufacturing jobs in Oskaloosa
-CAMP365 $250,000 REDI, $250,000 other/private, 15 new full-time manufacturing jobs in Albia
-REDI capitalizes a new Business Revolving Loan Fund called REDI CARES from a $1 million grant by the U.S. Department of Commerce Economic Development Administration (EDA) under the CARES Act
-C&C Machining $250,000 REDI, $2,395,439 Other/private, 6 new full-time jobs/34 retained manufacturing jobs in Centerville
-CAMP365 $150,000 REDI, $280,000 other/private, 10 new full-time manufacturing jobs in Albia
Contact Area 15 Regional Planning Commission for more information.
Local Revolving Loans
REDI Inc. is also assisting local governments in the administration of their local revolving loan funds. Local RLF assistance can be coupled with REDI loans for a complete business/industry financial package. As local RLF funds are repaid by business/industry, the proceeds are returned to the local fund to recapitalize it for future loans.
SCORE is a nonprofit association dedicated to helping small businesses get off the ground and grow and achieve their goals through education and mentorship. SCORE provides free volunteer mentoring, free business tools, templates and tips, as well as inexpensive or free local business workshops and webinars. More information about the South Central SCORE chapter can be found at their website.