Targeted Small Business Assistance
The Iowa Department of Economic Development (IDED) is committed to helping Iowans achieve their business goals. The Small Business Assistance Programs are designed to help women, minorities and persons with disabilities receive business assistance. These programs not only support multiculturalism in Iowa, but grow and expand Iowa's economy.
The Targeted Small Business (TSB) Assistance Program supports the creation and expansion of specified businesses. To qualify for the program, a business must have annual gross sales of less than $4 million and be at least 51% owned, operated and managed by women, minorities or persons with disabilities. A business can receive "Targeted Small Business" certification through the Iowa Department of Inspections and Appeals [www.state.ia.us/government/dia/page5.html] or from the Iowa Department of Transportation's Disadvantaged Business Enterprise program [www.dot.state.ia.us/contracts/contracts_eeoaa.htm].
Forms of Assistance
- Loans of up to $50,000 may be provided at interest rates of 0-5% that must be repaid in monthly installments over a seven year period. The first installment can be deferred for three months for a start-up business and one month for an existing business.
- Loan guarantees are available in limited cases for lines of credit up to $50,000. Loan guarantees can cover up to 80% of a loan obtained from a bank or other conventional leader. Interest rates are at the discretion of the lender.
- Equity grants are available in amounts up to $50,000, in limited cases.
TSB funds may be used to purchase equipment, acquire inventory, provide operating capital or leverage additional funding.
Contact the Iowa Department of Economic Development to determine eligibility or to obtain information specific to your needs.
- TSB Procurement Survey Results — View the results of the February 2008 survey that was sent to state, community colleges and area education agency procurement agents.
- TSB Procurement Goals [MS Excel: 52k] — View the quarterly TSB procurement goals for state agencies, community colleges and area education agencies for FY 2008 (July 1, 2007 - June 30, 2008).
- Access information on upcoming workshops as well as presentation content from past workshops.
- Certified Targeted Small Business Quarterly Spreadsheet — For a more up-to-date listing go to https://dia.iowa.gov/tsb/index.php/search
- Iowa's Targeted Small Business Program [PDF: 176k] — Help for Women, Minorities and Persons with Disabilities
- Targeted Small Business Newsletter — A newsletter to keep you informed of the opportunities available to targeted small businesses including financial assistance and procurement opportunities with the state.
- June 2008, Volume 1, Number 6 [PDF: 145k]
- May 2008, Volume 1, Number 5 [PDF: 507k]
- April 2008, Volume 1, Number 4 [PDF: 357k]
- March 2008, Volume 1, Number 3 [PDF: 156k]
- February 2008, Volume 1, Number 2 [PDF: 207k]
- January 2008, Volume 1, Number 1 [PDF: 187k]
- Don't miss the next issue –– Sign Up Today!
- Access the Targeted Small Business Technical Assistance Service Providers [PDF: 46k] — This is a list of the contracted targeted small business advocate service providers. These providers were contracted by the TSB Program for purposes of providing mentoring, outreach and professional development services to certified targeted small businesses. For additional information contact the TSB Program Manager.
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English — Application & Cash Flow Worksheet
• Application [PDF: 38k] [MS Word: 128k]
• Monthly Cash Flow Projection [PDF: 8k] [MS Excel: 130k]
Spanish — Application & Cash Flow Worksheet
• Application [PDF: 38k] [MS Word: 128k]
• Monthly Cash Flow Projection [PDF: 8k] [MS Excel: 130k]
To Learn More:
Phone: 515.242.4819 or 800.532.1215
E-mail: businessfinance@iowalifechanging.com
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