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State of Iowa

New Business Loans in IowaThe Grow Iowa Values Fund (GIVF) is the state's premier economic development program designed to transform Iowa's economy by creating high quality jobs through business development and expansion across Iowa. A variety of business development programs are available through the Grow Iowa Values Fund as listed below:

Direct Assistance to a Company
Assistance is provided in the form of loans and/or forgivable loans, based in part on job creation, capital investment, the ability to meet certain regional/county wage standards, quality of employment, and economic benefits for the state and local community. Applications are filed by cities, counties or community colleges on behalf of eligible businesses.

  • Grow Iowa Values Financial Assistance Program — Serves as the funding source for projects that are focused on job creation or retention, value-added agriculture and entrepreneurial efforts. This program, combined with Iowa’s nationally recognized business climate, tax incentives and proactive state government make Iowa a great place to do business.

  • Demonstration Fund — Provides pre-seed capital awards of up to $150,000 to encourage prototype and concept development activities by small and medium-sized Iowa companies in the advanced manufacturing, biosciences, and information technology industries. The fund is designed to encourage commercialization of innovation to foster competitive, profitable companies that create high paying jobs and wealth in Iowa.

  • Information Technology Joint Venture Fund — Provides up to $100,000 in financial assistance to encourage Iowa companies to work together to develop IT innovations. The primary purpose of this program is to encourage Iowa IT-user companies and IT producer companies to work on joint R&D programs to develop the next generation of IT products and services.

  • Supply Chain Development — Global competitiveness requires Iowa original equipment manufacturers (OEM) and their suppliers to adopt best practices to effectively and efficiently meet the requirements of their existing customers and to identify new customers. Targeted industries of biosciences, information technology, and advanced manufacturing now have access to financial assistance designed to identify and adopt performance improvement programs, create improved linkages to Iowa suppliers, their production capabilities and capacities, and technology commercialization services for supply chain development.

Infrastructure Assistance

Infrastructure component — Designed to financially assist capital-intensive infrastructure projects that create unique opportunities for quality, high-wage jobs and demonstrate a statewide impact. Both Iowa communities and new or existing businesses are eligible for this innovative program.

The Infrastructure component is designed to take a comprehensive approach to address a wide variety of critical infrastructure needs. This program may also be used to remediate contaminated sites that have potential development opportunities contingent on the cleanup. Assistance is provided in the form of loans, forgivable loans and cost indemnification agreements.

Public Facilities Set-Aside (PFSA) — The PFSA program provides financial assistance to cities with less than 50,000 in population and to counties for public 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, roads, and storm sewers.

Small Businesses & Entrepreneurs

Entrepreneurial Assistance — Financial capital may be available for early-stage and high growth companies.

Iowa Self-Employment (ISE) — Helps qualified individuals with disabilities establish, acquire, or expand a small business by providing technical and financial assistance.

Targeted Small Business Program (TSB) — Designed to create and expand minority- or women-owned businesses through direct loans.

Additional Programs

Employee Training Programs — Leverage training resources to help Iowa companies maintain their competitive edge.

Export Trade Assistance Program (ETAP) — Iowa may reimburse you for up to 75% of your international marketing efforts.

Tax Incentives — Iowa's pro-business outlook is reflected in the state's tax climate and competitive programs for companies located  within our borders. 

Technology Cooperative Program [PDF: 204k] — Application & Instructions.


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