| Business Development Financial Assistance |
| The Economic Development Set-Aside (EDSA) Program |
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, 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 under 50,000 population.
Assistance is provided in the form of loans and/or forgivable loans. The maximum award is $500,000 per project. Applications are filed by cities or counties on behalf of eligible businesses, which need to meet certain wage standards for the county. |
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| Value-Added Agricultural Products and Processes Financial Assistance Program (VAAPFAP) |
VAAPFAP provides financial assistance to new or existing companies that utilize the state's agricultural commodities to create new, higher-value products, or to produce renewable fuels and co-products (including soy diesel, ethanol and other renewable fuels).
A multimillion-dollar fund is available each year. Any single project may apply for up to $900,000. Financial assistance is provided in the form of loans and forgivable loans. |
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| Tax Exemption and Incentive Assistance |
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| Enterprise Zone Benefits |
| To encourage investment in Iowa's economically distressed areas, Iowa offers property tax exemptions and expanded state tax credits for qualifying companies that expand or locate in designated Enterprise Zones. |
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| Small Business Financial Assistance |
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| 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 or persons with disabilities. The program provides low-interest loans or equity grants up to $50,000 to eligible small businesses with $4 million or less in annual sales. Equity grants are available only to
leverage additional project financing (SBA or conventional financing). |
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CDC Microloan Revolving Loan Fund
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| The CDC manages a $100,000 revolving loan fund targeted to small businesses, entrepreneurs, and start-up companies. Businesses can apply for up to $15,000 from the revolving loan fund. Applications require a completed business plan and financial reports. If an applicant needs assistance with business and financial plans, free services are available from the Small Business Development Center. Successful applicants may apply loan funds to the purchase of equipment, inventory, remodeling costs, etc. Building construction or additions are not approved uses of the funds. For additional information, or to obtain an application, please contact Evan Blakley at the CDC at 263-5621 or stop by the office at 18 S. Main St. |
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| Entrepreneurs With Disabilities (EWDI) Program |
The EWDI 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 Blind and the Iowa Department of Economic Development. |
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| Infrastructure Financial Assistance |
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| Public Facilities Set-Aside (PFSA) Program |
The PFSA program provides financial assistance to cities under 50,000 in population, and to counties, for 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 and roads, storm sewers, rail lines and airports. |
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| Rail Economic Development (CRED) Program |
For rail projects that are key to the creation or retention of jobs, the Iowa Department of Transportation provides funds through this program for construction or rehabilitation of rail spurs to serve new or existing industries. Assistance is
provided in the form of a grant, up to $100,000. |
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| Revitalize Iowa's Sound Economy (RISE) Program |
This program, also administered by the Iowa Department of Transportation, provides funding for expenditures on city, county and state 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. |
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For more detailed information about how your company can qualify for these innovative programs,
Contact: Evan Blakley
Phone: 712-263-6622
Fax: 712-263-4789
E-Mail: CDC
or
Iowa Department of Economic Development
1-800-245-IOWA
http://www.iowalifechanging.com/business
Chamber & Development Council of Crawford County is eager to help you maximize the benefits of these programs, and we look forward to working with you.
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