Targeted Small Business Loans
Small Business Resources
Assistance for Eligible Individuals Starting or Growing a Business
The Targeted Small Business (TSB) loans are available to businesses that are eligible for TSB certification - are 51% or more owned and actively managed by a female, an individual with minority status, a service-disabled veteran or an individual with disability. Loan eligibility is not dependent on TSB certification, however, it is strongly encouraged that once the entity is in business that they become a certified TSB.
- Loans up to $50,000 for TSBs looking to start or expand
- Funds can be used for business improvements and expenses, including but not limited to, the purchase of equipment, furnishings, inventory and specific operating expenses
- Funds cannot be used for the purposes of purchasing or investing in real estate
- TSB certification is not required
To be eligible for a TSB loan, individuals must:
- Be over 18 years of age
- Live in Iowa for over 6 months
- Intend to own and operate the business where the funds will be used
- Have an average gross business income of less than $4 million, computed as an average of the preceding three fiscal years
- Operate a for-profit enterprise
Additionally, individuals or the business must not:
- Lend loan funds to other individuals
- Be subject to any federal or state liens
- Be involved in the adult entertainment industry
- Intend to use the funds to pay off existing business or personal debt
- Use funds to purchase property or to construct a commercial location
How Do I Apply?
Review the required documents that will be requested as part of the loan process.
- The required documents must be provided to receive a loan
- If you do not have the documents, TSB staff will refer you to our resource partners that can assist with the information
Complete the TSB loan pre-application questionnaire.
- Submit the pre-application to TSB staff at firstname.lastname@example.org
- Upon submission, TSB staff will contact you within 3-5 business days to provide individual assistance and guidance and, if all information is complete, to start the application