WADF Introduces Lower Interest Rates to Support Local Growth

posted in Chamber of Commerce on March 10, 2025

Waverly, IA– The Waverly Area Development Fund (WADF) is pleased to announce a significant reduction in interest rates, now offering an attractive 4% fixed rate for up to 10 years. This initiative aims to empower local businesses and stimulate economic growth by providing more accessible and affordable financing options.

The new 4% interest rate will apply to qualifying loans through WADF’s loan fund, which is primarily intended to fill financing gaps for commercial, industrial, and retail establishments in the Waverly, Shell Rock, and Bremer County areas. Eligible borrowers can be from Waverly, Shell Rock, Denver, Frederika, Janesville, Plainfield, Readlyn, Sumner, and Tripoli.

The funds may be used for various business-related expenses, including land and building acquisition, site preparation, construction, machinery and equipment purchases, renovations, and working capital. The stated purpose of this fund is to retain and create employment opportunities, leverage other public and private investments, facilitate economic growth, and encourage industrial, commercial, and retail development in designated areas.

“Our goal is to provide businesses with the financial resources they need to grow and thrive in Waverly, Shell Rock and Bremer County,” said Levi Epley, President of WADF. “By reducing interest rates, we hope to make it easier for entrepreneurs to access capital, create jobs, and drive long-term economic success.”

Local business owners and potential applicants are encouraged to explore this opportunity and learn more about the eligibility criteria.

For more information about the Waverly Area Development Fund and the new 4% interest rate loan program, please visit www.waverlyia.com/wadf or contact Connie Tolan, Waverly Area Economic Development, at 319-352-9210.

About the Waverly Area Development Fund:
The Waverly Area Development Fund is dedicated to fostering economic prosperity by providing financial support and resources to local businesses and community projects. Through strategic investments and partnerships, WADF helps create a vibrant and sustainable economic environment in the Waverly region.