City of Iowa City Grant Programs
*NEW* Targeted Small Business Development Grant Program: Up to $5,000 grant award, combined with technical assistance or business coaching to help business owners who fall under the Targeted Small Business definition grow and develop their business.
The City of Iowa City occasionally offers small business grant programs. New opportunities will be published as they are available. You can sign up for Iowa City news to be notified when new opportunities are announced.
Partner Grant Programs
- Grants to Small Indigenous Businesses: Made possible through funding support from the City of Iowa City, the House of Dotlizhi is offering workshops and a grant program targeting Indigenous-owned businesses who reside in Iowa City.
Partner Loan Programs
- Targeted Small Business Program: The certified Targeted Small Business (TSB) program is designed to help women, individuals with minority status, service-connected disabled veterans and individuals with disabilities overcome some of the hurdles to start or grow a small business in Iowa. Support for TSBs can occur either through an official third-party certification of the business or through the low-interest TSB loan program.
-
Kiva Iowa 0% Interest Loan: Zero interest, zero fee, extended grace period microloan program (up to $15,000) for small business owners and entrepreneurs. NewBoCo serves as the statewide hub for Iowa entrepreneurs seeking Kiva financing and can assist with the lending process. This may be a good option if you are a woman, person of color, or someone with a low or no credit score.
- SSBCI Small Business Collateral Support Program: Helps small businesses offset collateral shortfalls as they secure loans through commercial lenders. This may be a good fit for small businesses that are 51% owned by women, individuals from diverse backgrounds, veterans, individuals with disabilities, and long-term rural residents; and small businesses that enhance arts and culture in Iowa.
-
Iowa Center Loan Fund: Small business loans (up to $50,000) for Iowans starting or expanding a business who do not have access to traditional forms of financial assistance. In addition to financing, Loan Fund clients receive education and technical assistance regarding the loan process and credit counseling to improve credit histories. This may be a good option for low-income business owners, business owners in economically distressed areas, and diverse or historically-disadvantaged business owners.
- Small Business Administration Microloan Program: Small business loans (up to $50,000 or co-financing arrangement up to $150,000) for small businesses looking to start, expand, or refinance.The SBA’s microloan program is administered through intermediaries. Currently, the Iowa Center for Economic Success and Iowa MicroLoan are the two SBA microlenders in Iowa. Please contact one of these agencies for more information.
- Iowa Community Capital: Offers credit builder loans, small dollar loans, and microloans; targeting low-income entrepreneurs and underserved populations with difficulty accessing traditional financing.
