Iowa Administrative Code
Agency 261 - Economic Development Authority
Part XII - Energy Division
Chapter 406 - Energy Infrastructure Revolving Loan Program
Rule 261-406.4 - Eligible and Ineligible Borrowers

Universal Citation: IA Admin Code 261-406.4

Current through Register Vol. 47, No. 6, September 18, 2024

(1) Eligible borrowers. Eligible borrowers include:

a. Businesses incorporated or organized in Iowa or authorized to do business in Iowa, including businesses operated as sole proprietorships with a registered trade name;

b. Rural electric cooperatives; and

c. Municipal utilities.

(2) Ineligible borrowers. Ineligible borrowers include:

a. A business that is not located in or operating in Iowa. A business that will be located and operating in Iowa upon completion of an eligible project may be eligible.

b. An individual or an organization with a history of defaulted loans or compliance violations with other state programs or rules.

c. Regents institutions.

d. Community colleges.

e. State agencies.

f. Cities, except municipal utilities that are eligible borrowers pursuant to paragraph 406.4(1)"c."

g. Counties.

h. School districts.

i. Nonprofit organizations.

Disclaimer: These regulations may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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