FUNDING OPPORTUNITIES
LOCAL LENDERS
Grundy Center Business Improvement Grant Program
Allows public funds (City of Grundy Center) to be available for the support of economic development initiatives and business development in the community. The program will provide a maximum of $20,000 total project funding for economic development to private entities for improvements to local business and their facilities.
Butler - Grundy Development Alliance
This revolving loan program was created to assist small and emerging businesses in the two-county region. Funds are meant to be used as gap financing, in partnership with a bank or other lending institution, or in situations where other funding may not be available. The program can be used for retail and service businesses, among others. The interest rate is generally around 3%, and there will be a maximum repayment term of 5 years. The maximum loan amount is $20,000, and is dependent on the assets available in the fund.
Black Hawk IRP Program
This low-interest loan program assists businesses with the acquisition of real estate, purchase of machinery and equipment, building improvements and working capital. The IRP Program services all of Grundy County. Please contact bhed@bhed.org.
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.
Available to Grundy Center Chamber-Main Street investors. Contact Director@GrundyCenterCMS.org.
TIF-Tax Increment Financing
For more information regarding the Urban Renewal Plan, contact City of Grundy Center at 319-825-6118.
MAIN STREET FUNDING
Main Street Iowa Challenge Grant
Available for brick and mortar building projects that contribute to the development of designated Main Street Iowa districts. 1:1 match is required. Maximum grant award is $100,000, minimum grant award is $25,000. Application opens yearly on July 1st and is due mid-September. Only one project can be represented per community through a selection process.
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 in March.
Community Catalyst Building Remediation
Grants to cities for remediation or redevelopment of underutilized buildings. Applicant must be the city. Project must include financial and/or in kind resources contributed by City. One grant per City. Maximum amount is $100.000.
OTHER FUNDING
Small Business Linked Investments For Tomorrow (LIFT) Program
This 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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COVID Relief