FUNDING OPPORTUNITIES
LOCAL LENDERS
Grundy Center Business Innovations Grant
Business Innovations Grant Program allows public funds to be available for the support of economic development initiatives and business development in the community. The program will provide a maximum of 50% total project funding for economic development to private entities for improvements to local business and their facilities.
Butler & Grundy County Rural Electric Cooperative
This low-interest loan program assists new or expanding private businesses, local governments, and non-profit community development organizations. Eligible uses include land purchases, buildings, fixed assets, m&e, residential housing projects, and working capital. The minimum loan is $5,000.
Butler - Grundy Development Alliance
This new revolving loan program was created to assist small and emerging businesses in the county. This program can be used for retail and service businesses, among others. The interest rate will be around 5% and there will be a maximum repayment term of 5 years. The maximum loan amount is $5,000.
Black Hawk IRP Program
This low-interest loan program assists business with the acquisition of real estate, purchase of machinery & equipment, building improvements and working capital. The IRP Program services all of Grundy County.
One Small Step Program
Downtown Grundy Center offers something very unique: historic architecture, a Main Street storefront shopping district, a human-scaled street grid, and unique locally-owned businesses. The Grundy Center Chamber-Main Street “One Small Step Program” is designed to complement these strengths by providing assistance and incentives for commercial property owners to enhance the design and appearance of their storefront façades.
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To apply, you can find the form here.
MAIN STREET FUNDING
Main Street Iowa/Iowa Finance Authority Loan Program
This Program provides mortgage loans for multi-family housing and commercial development in Main Street districts. Infill construction and rehabilitation of upper floor housing in mixed-used buildings are typical projects
Main Street Iowa Grant Challenge
Eligible projects must be within the identified Main Street project area. Only the Main Street organizations in participating communities may submit applications on behalf of local projects, properties, and businesses. This program requires a dollar for dollar match.
Main Street Iowa Design & Business Assistance
Design & Business assistance is provided to downtown property owners and tenants as a free service through the Iowa Economic Development Authority's Maint Street Iowa Program. The Design Specialists will provide design recommendations and develop conceptual renderings for each proposed project. The Business Specialist will provide economic development assistance as well as one-on-one business consultations.
Main Street Open 4 Business Program
Eligible projects must be within the identified Main Street project area. Geared toward new or expanding businesses that fill a gap within the local Main Street district. Only the Main Street organization can submit an application on behalf of local businesses. Competitive applications accepted once a year.
OTHER FUNDING
Small Business Linked Investments For Tomorrow (LIFT) Program
The Small Business Linked Program will inject capital into small businesses owned and operated by Iowa residents. One-half of the moneys invested will be available for qualifying small businesses which are 51 percent or more owned, operated and actively managed by one or more women, minority persons, or persons with disabilities.
Target Small Business Program
Iowa’s 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 starting or growing a small business in Iowa. If your business qualifies as a Targeted Small Business, you are eligible for the following elements of the program:
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Access to loans up to $50,000 to start or expand your business
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Loan funds can be used for business improvements and expenses, including (but not limited to) the purchase of equipment, furnishings, inventory and specific operating expenses. Loan terms include favorable fixed interest rates, fixed monthly payments and no pre-payment penalties. Contact: Iowa Center for Economic Success: 515.283.0940 or info@TheIowaCenter.org
Contact: Michelle Boyd; michelle.boyd@iowa.gov or 515.725.2275
Small Business Administration (SBA)
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504 Program
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SBA 7(a)
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Microloan
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Rural Business Loans
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Special Purpose Loans Program
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Advantage Loan Initiatives