Iowa City has introduced a new grant initiative aimed at supporting local entrepreneurs and small business owners who qualify under the Targeted Small Business (TSB) category.
The Targeted Small Business Development Grant Program offers up to $5,000 in funding along with tailored business coaching, support, and technical assistance to help recipients overcome barriers to growth and development.
This opportunity is available to any Iowa City-based business owner or entrepreneur who is either certified or eligible for certification as a TSB. Applicants not yet certified will be required to apply for TSB status by the end of the grant term.
Eligible businesses must meet the following criteria: they must be located in Iowa, operate for profit, earn less than $4 million in gross revenue (averaged over the past three years), and be at least 51% owned, operated, and managed by individuals who are women, minority status, service-disabled veterans, or individuals with disabilities.
This program is part of the city’s long-term effort to foster local business potential and aligns with the City Council’s broader goal of supporting inclusive economic development. It also ties into the council’s Strategic Plan to “increase small business technical assistance to aid in the creation, success, and growth of home-grown business.”
Applications are now open and can be submitted online at www.icgov.org/TSB. The deadline to apply is 3 p.m. on Wednesday, Nov. 6, 2024.
