Corridor to host quarterly Investor Meeting with Dakota Business Finance

CORRIDOR TO HOST QUARTERLY INVESTOR MEETING WITH DAKOTA BUSINESS FINANCE

The Iowa Lakes Corridor Development Corporation (Corridor) will be hosting a Quarterly Investor Meeting on Tuesday, April 25th from 4:00-5:00 p.m. at the Lake Park Community Center. The Corridor is partnering with Dakota BUSINESS Finance for this event.

At this event, Dakota BUSINESS Finance will present on the resources the organization has for small businesses. The Corridor will also be receiving an award from Dakota BUSINESS Finance.

Community lender awards were established in 2019 to give back to the communities in which Dakota BUSINESS Finance does loans. The prizes are awarded based on the number of loans approved in the fiscal year per community. Only communities of less than 50,000 are eligible to participate. These grants are to put money back into these communities served and to assist with local business development.

Dakota BUSINESS Finance works with local lenders to provide loans to small businesses to construct, purchase or renovate a building, or install leasehold improvements or long-term machinery and equipment. Typically, the lender will provide 50 percent of the financing; SBA/Dakota BUSINESS Finance will provide 40 percent of the financing; and the small business owner will contribute the remaining 10 percent.

SBA/Dakota BUSINESS Finance's portion of the project is a direct loan from SBA, which sells the loans as bonds (or debentures) to investors on a monthly basis. Loan participants must be for-profit businesses and meet standards set by SBA.

“The Corridor is excited to have the opportunity to bring a great resource to our investors at this meeting,” said Corridor President & CEO Shannon Landauer. “The Dakota BUSINESS Finance team has successfully worked with Corridor area lenders to fund projects that continue to grow in our region.”

The Quarterly Investor Meetings are free to attend for all Corridor investors, but RSVPs are required. Please contact the Corridor office at 712-264-3474 or info@lakescorridor.com to reserve your spot!

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ABOUT THE IOWA LAKES CORRIDOR DEVELOPMENT CORPORATION

The Iowa Lakes Corridor Development Corporation is the regional economic development agency for Buena Vista, Clay, Dickinson and Emmet counties. The Iowa Lakes Corridor’s mission is to foster, encourage, promote, aid or otherwise assist in the economic development growth and development of the four-county region.