If you or someone you know may be interested in any of the following incentives, please contact city clerk Kris McGrane at City Hall at 563-425-4316.
REVOLVING LOAN FUND: The City of Fayette is still accepting applications for Revolving Loan Funds. The purpose of the loans are to help provide “gap” financing to new or expanding businesses for which credit is not otherwise available. Current business owners or anyone interested in starting their own business in Fayette are able to apply. The loans may be used for purchasing a building or land, remodeling, equipment purchases, etc. For more information or to apply, visit http://www.fayetteiowa.com/government/incentives.html.
9 S. MAIN STREET – LOW-RENT, SHORT-TERM: Do you or anyone you know have a small business out of their home that may be ready to try taking the next step and getting a downtown storefront? Maybe you thought about opening a small business but haven’t been financially ready to dive in yet? The Fayette City Council wants to help and inspire those interested in starting a new business by offering a short-term, low-cost commercial office space. The City of Fayette is now leasing out the commercial space at 9 S. Main Street at a low rental rate and for a period of 1 month to 3 years (month-by-month lease agreement). This is a great way to try a new business (like a holiday craft shop) without a long-term and high-price rental agreement.
NEW BUSINESS INCENTIVE: Any new businesses that open for business (after September 30, 2019) are eligible for a marketing incentive. The new business may apply to the city to get reimbursed for up to $1,000 of marketing/advertising costs after they have been open for 12 months.