Are you a business owner in Iowa? Or, are you considering starting a business in the Hawkeye state? Take a look through this comprehensive list of business grants and loans—only available to Iowa-based businesses. One of these funding options may be just what you need to open or grow your business.
Department or Agency: Iowa Center for Economic Success
Loan or Grant title: Small Business Loans
Entrepreneurs and start-up business owners who have lived in Iowa for at least six months may be eligible to apply for a Small Business Loan through the Iowa Center for Economic Success. The loan fund was created to provide access to capital and increase small business development in the state. Loan amounts of up to $30,000 are available to cover most business expenses incurred in the process of developing and expanding a business.
Department or Agency: Iowa Economic Development
Loan or Grant title: Targeted Small Business Loans
Businesses that are at least 51% owned and operated by a person who is a female, minority, or disabled may qualify for a Targeted Small Business Loan through Iowa Economic Development. Eligible businesses are not required to have Targeted Small Business Certification through the organization, however, certification is encouraged. Loan amounts range up to $50,000 and can be used for expenses such as equipment costs, inventory, and operating costs. Applicants must live in Iowa for at least six months before applying for the loan.
Department or Agency: Manufacturing 4.0
Loan or Grant title: Loan Participation Program
To spark investment in technology across the state of Iowa, Manufacturing 4.0 is offering loans to manufacturers authorized to do business in the state. Loans range from $200,000 to $2 million and funds can be used toward software and fixed-asset equipment. Eligible manufacturing businesses must have less than 500 employees.
Department or Agency: Iowa Valley Business and Community Solutions
Loan or Grant title: Training Grants
New and current businesses that are expanding within or relocating to Iowa may be eligible for a grant through Iowa Valley Business and Community Solutions’ Training Program. Funds can cover travel reimbursement, adult education, job training, and testing for employees. These grants are aimed at businesses in manufacturing; businesses in healthcare and retail industries are not eligible to receive this training grant.
Department or Agency: City of Muscatine
Loan or Grant title: Small Business Forgivable Loan Program
New and existing businesses looking to expand may be eligible for a Small Business Forgivable Loan through the City of Muscatine, which was created to promote economic growth locally. Loans of up to $25,000 can be used toward building improvements and other business expenses associated with starting a new business. If businesses are not new, they must have a plan to expand into a new market, product, or service in order to be eligible for the forgivable loan.
Department or Agency: Jewell
Loan or Grant title: REGENT Grant
Jewell’s REGENT Grant was created to revitalize the city of Jewell by helping to improve buildings and signage for Jade business members. Qualified applicants may receive 50% reimbursement, up to $500, for interior or exterior building renovations and up to $250 for signage improvements.
Department or Agency: City of Davenport
Loan or Grant title: Small Business Loan Program
The driving force behind the City of Davenport’s Small Business Loan Program is to create jobs throughout the area. Businesses may be eligible to receive up to $30,000 for each new full-time employee. To be eligible, the business owner must be a low- to moderate-income individual and the new jobs must be created to employ low- to moderate-income people. See the website for additional details and requirements.
Department or Agency: City of Walnut
Loan or Grant title: Small Business Start-up Grant Program
To encourage local entrepreneurs, businesses located within the commercial districts in the City of Walnut may be eligible for a start-up grant of up to $5,000. A business must be operational for less than one year to be considered a start-up. Additional qualifications include having less than $350,000 in gross receipts or having less than five full-time employees on staff.
