The Des Moines City Council recently reauthorized the Small Business Impact Loan Program, which aims to help local entrepreneurs start, grow and strengthen their businesses. Launched last year, the program is designed to fill a financing gap for small business owners who may not qualify for traditional bank loans but demonstrate strong potential for community impact and long-term success. With this reauthorization, applications will now be accepted on a rolling basis, giving business owners the flexibility to apply when the timing is right for their next big step forward. Administered through the Small Business Support Center, the program offers short-term, low-interest loans ranging from $5,000 to $20,000 with repayment terms of three to five years. These funds can help entrepreneurs expand operations, purchase equipment, make leasehold improvements or expand their businesses through pivotal transitions. What sets the program apart is its pairing of accessible capital with hands-on technical assistance. For more information, visit the Small Business Impact Loan website.
