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The State Bank of Toledo to participate in Capital Access Program

Aimed at supporting, assisting small business in Iowa

September 25, 2012
Toledo Chronicle, Tama News-Herald

The State Bank of Toledo is pleased to announce its participation in the Iowa Capital Access Program (ICAP). This new program was created by the Iowa Economic Development Authority (IEDA) earlier this year to help lenders increase their efforts to assist small business owners looking to grow in Iowa. The funds for ICAP were made available through a $13 million grant from the U.S. Treasury's State Small Business Credit Program (SSBCI).

According to bank Vice President Jerimi Kopsa, "We try to take advantage of any opportunity the State Bank of Toledo has to assist the growth of our local business market. We are optimistic this initiative, along with other lending opportunities, will help provide incentive for current and future companies to expand in our marketplace. Successful businesses will provide our local economy with the stability necessary to prosper in the 21st century, and we hope to be a significant part of this success."

The ICAP provides portfolio insurance for business loans based on a separate loan loss reserve fund for each participating financial institution. Each participating lender builds a separate loan loss reserve fund through fees collected from the lender and borrower, which are matched by ICAP. The reserve fund is not specific to individual loans, but is used to offset all or part of a loss on any enrolled loan in a participating lender's ICAP loan portfolio. Other states have experienced great success with this program and have used it for the creation and retention of tens of thousands of jobs and leveraged millions of dollars of private lending.

Article Photos

Jerimi Kopsa

"Over 25 states offer capital access programs that support both lenders and small business owners. It is important that Iowa offer similar tools to remain competitive and help our lenders manage risk and support small business owners who are looking to invest and increase employment in Iowa," said IEDA Director Debi Durham.

The IEDA has allocated $5 million from the U.S. Treasury's SSBCI grant to implement ICAP, which is expected to support approximately 1,500 loans and leverage nearly $100 million of private lending during the first five years of the program. The IEDA has partnered with Iowa Business Growth Company for the administration of the program.

Small business owners in the Toledo area who are interested in participating in ICAP are encouraged to contact a lender at 641.484.2980 or visit for a list of participating lenders.




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