Official State of Iowa Website Here is how you know

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

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
  • 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