FINANCIAL_SERVICESONGOING

Connection Bank Extends Interest-Only Building Loan

Connection Bank continues to finance SIREPA’s 280th Street building through an interest-only loan, now extended for another 12 months in 2025–2026 at 1.85% interest. The current loan balance is about $1,001,534 with monthly interest payments of roughly $1,544.

Status
ONGOING
Document date
December 11, 2025
Contract type
FINANCIAL_SERVICES
Vendor
Connection Bank
Agency
Southeast Iowa Regional Economic And Port Authority · IA

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract type
FINANCIAL_SERVICES
Contract term
Interest-only 12-month loan extension 2025–2026 at 1.85%
Renewal date
2026-12-31
Renewal
Initial interest-only term from 2021–2024 followed by a 2024–2025 extension and another 2025–2026 interest-only extension at 1.85%; future options include principal pay-down and possible conversion to a 20-year 3.70% principal-and-interest loan as analyzed in the memo.
Document type
Agenda
Source document
SIREPA Board of Directors Meeting Agenda December 2025

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Southeast Iowa Regional Economic And Port Authority?

Connection Bank was awarded this financial services contract by Southeast Iowa Regional Economic And Port Authority, as recorded on December 11, 2025.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in SIREPA Board of Directors Meeting Agenda December 2025 (Agenda), dated December 11, 2025 from Southeast Iowa Regional Economic And Port Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Connection Bank hold?

Connection Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Southeast Iowa Regional Economic And Port Authority currently buying?

Explore Southeast Iowa Regional Economic And Port Authority's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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