FINANCIAL ASSISTANCE

AEDC Loan Pool
Tax Increment Financing
Property Tax Abatement
Public Utilities or Street Improvements

Regional Assistance
Revolving Loan Fund

State Assistance

Iowa Values Fund (IVF)
The Iowa Values Fund is the state’s premier 10-year economic development program designed to transform Iowa's economy by creating high-quality jobs through business development and expansion across Iowa. With a $35 million dollar annual appropriation for business development and marketing, the IVF assists Iowa companies to expand, as well as attract new businesses to the state. To be eligible, a business must provide a wage, plus benefits, that is equivalent to 130 percent of the county average. A business must also be in one of the state’s targeted industries, which include life sciences, information solutions/ financial services and advanced manufacturing.

Community Economic Betterment Account (CEBA)
The CEBA program provides financial assistance to businesses that plan a major capital investment that will create new job opportunities and/or retain existing jobs in Iowa. Assistance may be provided to encourage new business start-ups, expand or retain existing businesses, or recruit out-of-state businesses to Iowa. CEBA also contains a modernization project component, specifically designed for businesses making equipment and technology upgrades and employee-training investments to maintain their competitive advantage.

Assistance is provided in the form of loans and/or forgivable loans, up to a maximum award of $1 million, based in part on job creation, capital investment, the ability to meet certain regional/county wage standards, quality of employment, and economic benefits for the state and local community. Applications are filed by cities, counties or community colleges on behalf of eligible businesses.

Iowa Loan and Credit Guarantee Fund
The Iowa Loan and Credit Guarantee Fund is designed to help businesses that are having difficulty accessing conventional financing. The fund provides lenders with additional security, thereby encouraging greater lender activity to Iowa businesses.

Economic Development Set-Aside (EDSA)
EDSA provides assistance to businesses that plan to make a capital investment and create and/or retain quality employment opportunities for low- and moderate-income individuals. Assistance may be provided to encourage business start-ups, the expansion or retention of existing businesses, or the recruitment of out-of-state businesses into Iowa. EDSA funds business projects located in Iowa cities of less than 50,000 population.

Assistance is provided in the form of loans and/or forgivable loans. The maximum award is $1 million per project. Applications are filed by cities or counties on behalf of eligible businesses, which need to meet certain regional/county wage standards.

Iowa Value-Added Agricultural Products & Processes Financial Assistance Program (VAAPFAP)
The VAAPFAP provides financial assistance to new or existing companies that utilize the state’s agricultural commodities to create new, innovative products or to produce renewable fuels (including soy diesel, ethanol and other renewable fuels). VAAPFAP can also assist those companies engaged in organic processing, bio-mass and the creation of alternative energies. Financial assistance is provided in the form of loans and forgivable loans.

Tax Exemption and Incentive Assistance

High Quality Job Creation Program (HQJCP)
HQJCP is designed to promote the creation of quality jobs by businesses locating, expanding or modernizing their facilities in Iowa. To be eligible, businesses must meet criteria relating to targeted industries, employee benefits, and building specifications, among others. The program offers a package of tax credits, exemptions and/or refunds to approved businesses.

Entrepreneurial Financial Assistance Programs

Entrepreneurial Ventures Assistance (EVA) Program
The EVA program is designed to encourage and support the development of entrepreneurial ventures in Iowa, focusing mainly on high-growth, technology-based companies. The program provides financing to entrepreneurs for early-stage business start-up and expansion activities as well as technical assistance.

Applicants must identify a specific project and associated costs. EVA funds may be used to finance up to 50 percent of the total project costs, not to exceed the $250,000 maximum. In addition, eligible applicants must have successfully completed a recognized entrepreneurial venture development curriculum or have equivalent business experience.

Small Business Financial Assistance

Targeted Small-Business Financial Assistance Program (TSBFAP)
TSBFAP is designed to assist in the creation and expansion of Iowa small businesses that are at least 51 percent owned, operated and managed by minorities, women, persons with disabilities or low-income individuals. The program provides low-interest loans or equity grants of up to $50,000 to eligible small businesses with $3 million or less in annual sales. Equity grants are available only to leverage additional project financing (SBA or conventional financing).

Entrepreneurs With Disabilities (EWD) Program
The EWD program helps qualified individuals with disabilities establish, acquire, maintain or expand a small business by providing technical and financial assistance. Each entrepreneur can qualify for up to $10,000 in financial assistance.

Additional funding may be available for technical assistance, which includes business-related services provided by a consultant, such as accounting, legal services and business-plan development.

This program is a collaborative effort of the Iowa Department of Education, Division of Vocational Rehabilitation Services, Department for the Blinds, Iowa Finance Authority and Iowa Department of Economic Development.

Self-Employment Loan Program (SELP)
Offers low-interest loans of up to $10,000 to low-income owners of new or expanding small businesses.

Infrastructure Financial Assistance

Physical Infrastructure Assistance Program (PIAP)
The PIAP is designed to financially assist capital-intensive infrastructure projects that create unique opportunities for quality, high-wage jobs and demonstrate a statewide impact. Both Iowa communities and new or existing businesses are eligible for this innovative program.

PIAP is designed to take a comprehensive approach to address a wide variety of critical infrastructure needs. This program may also be used to remediate contaminated sites that have potential development opportunities contingent on the cleanup. Assistance is provided in the form of loans, forgivable loans and cost indemnification agreements.

Public Facilities Set-Aside (PFSA) Program
The PFSA program provides financial assistance to cities with less than 50,000 in population and to counties for public infrastructure improvements that enable businesses to create new job opportunities. Projects that will create manufacturing jobs, add value to Iowa resources and/or increase out-of-state exports will be given priority.

Eligible projects include adding or improving sanitary sewer systems, water systems, streets, roads, and storm sewers.

Export Trade Assistance Program (ETAP)
ETAP provides financial assistance to eligible Iowa businesses wishing to enter new markets by participating in foreign trade shows and trade missions.

Assistive Device Tax Credit
Iowa small businesses can reduce their taxes by buying or renting products or equipment, or by making physical changes to the workplace to help employees with disabilities get or keep a job.

Rail Infrastructure Funding Programs
For rail projects that are key to the creation or retention of jobs, the Iowa Department of Transportation (DOT) can provide grant funding through this program for construction or rehabilitation of rail spurs to serve new or existing industries. For specific information on rail funding, contact the DOT at 515.239.1052.

Revitalize Iowa’s Sound Economy (RISE) Program
This program, administered by the Iowa Department of Transportation (DOT), provides funding for expenditures on city and county highways to help attract new development or support growth with existing developments. Projects are evaluated on economic potential and impact. RISE funding may be used in conjunction with other sources of federal, state, local and private financing to improve area highways and specific access to roads. Assistance is provided in the form of grants and/or loans.

Iowa Industrial Development Revenue Bond Program
Provides financing to new and expanding businesses through the sale of tax-exempt bonds.

Venture Capital Sources

Small Business Investment Companies (SBICs)
SBICs fill the gap between the availability of venture capital and the needs of small businesses in start-up and growth situations. SBICs are privately owned investment firms that provide capital plus funds borrowed at favorable rates with an SBA guarantee.

Federal Financial Assistance

Small Business Administration Loan Programs
Provides a number of guaranteed loan programs designed to meet the needs of small business.

Small Business Innovation Research Grants (SBIR)
Provides small, high-technology firms a greater share of federal research development funds.