1055 University Ave, Dubuque, IA 52001
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Dubuque Initiatives Emergency Loan Program

Weeks after its launch, the $2 million Dubuque Initiatives Emergency Loan Program is evolving to assist more small businesses in the City of Dubuque. In April, the program was introduced as a bridge funding program, allowing qualified participants to repay loans after federal Small Business Administration (SBA) funds were received from the Economic Injury Disaster Loan or Paycheck Protection Programs. The primary change to the program now offers the option to immediately convert funding to a short-term, low-interest loan rather than quickly repay the funds. Borrowers can take out the $10,000 loan with no interest or fees for the first six months. After six months, it will be converted to a 30-month, 1% interest loan. Small businesses who wish may still utilize it as bridge funding. Other changes to the program include the ability for sole proprietors and independent contractors to apply, as well as locally-owned franchisees. To apply for the program, contact the COVID-19 Small Business Helpline at 563-588-3350 between 8:30 a.m. and 4:00 p.m., Monday through Friday or email sbhelpline@nicc.edu.

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