The Prosperity Eastern Iowa Region offers a wide range of financial incentives, loan programs, grants, and business support services to help start and grow businesses.
In addition to the strong private-sector financial community, there is a solid network of economic development agencies that offer numerous choices and opportunities for growing and expanding businesses, as well as for entrepreneurs.
Business Development Financial Assistance
Revolving Loan Funds (RLF):
The RLFs are targeted primarily for the purchase of equipment. The objectives of the programs are private sector job creation and capital formation for expansion or start-up projects. The RLFs feature below-market interest rates, filling financial gaps, and leveraging private sector funds. Requirements vary among funds.
SBA 504 Loan Program:
The SBA 504 Loan Program is the Small Business Administration’s economic development financing program that helps American small businesses grow while benefiting communities through tax base expansion, business growth, and job creation. Loans are available for all types of small, for-profit businesses to purchase and/or renovate capital assets including land, buildings, and equipment.
Your Resource: ECIA Business Growth, Inc.
Iowa Economic Development Authority (IEDA):
The Iowa Economic Development Authority (IEDA) offers a variety of programs and services to individuals, communities and businesses to attract and grow business, employment and workforce in Iowa. Ground-breaking economic growth strategies focusing on cultivating start-up companies and helping existing companies become more innovative complement the activities underway to retain and attract companies that are creating jobs for Iowans. Developing sustainable, adaptable communities ready for this growth is also an essential part of our work at IEDA is providing programs and resources that help communities reinvest, recover and revitalize to make each community’s vision a reality. Much of what you know about Iowa is true. It’s what you don’t know that sets us apart.
Your Resource: Iowa Economic Development Authority (IEDA)
Small Business Development Center
The mission of the Iowa Small Business Development Center is to have a positive impact on the economy of the State of Iowa and its communities. We do this by providing the highest quality assistance to current and future businesses and by collaborating with other federal, state, local and private resources to ensure maximum benefit to clients. The Iowa Small Business Development Center (SBDC) conducts research, counsels, and trains business people in management, financing, and operating small businesses, and provides comprehensive information services and access to experts in a variety of fields.
Your Resource: Iowa Small Business Development Center
SCORE, mentors to America’s small business, is a nonprofit association dedicated to educating entrepreneurs and helping small business start, grow and succeed nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA). SCORE offers advice online and in-person at it 364 offices nationwide. SCORE Dubuque is housed at the Dubuque Area Chamber of Commerce.
Your Resource: SCORE
Greater Dubuque Development is committed to the success of existing businesses. Greater Dubuque staff work with area businesses of all sizes and sectors to assist with their challenges and opportunities. Personal, detailed attention to the needs of area employers is the hallmark of the mission of Greater Dubuque Development.
Your Resource: InfoAction
Iowa Small Business Loan Program
The ISB Loan Program aids Iowa entrepreneurs and Iowa small businesses in their efforts to (1) upgrade or modernize equipment, (2) realize additional efficiencies in their supply chains, (3) improve their distribution and transportation margins, (4) reduce facility costs through increased energy efficiency, and (5) leverage other sources of business financing.
Small businesses that are located in Iowa, are owned, operated and actively managed by an Iowa resident, and have 35 or fewer full-time equivalent employees are eligible to apply to the ISB Loan Program. Eligible businesses must also have a business plan and receive assistance from an Iowa Small Business Development Center or another qualified public or nonprofit business consultant approved by the Iowa Department of Economic Development.
Your Resource: Iowa Small Business Loan Program