About

The Iowa Economic Development Authority offers direct financial assistance in the form of loans or forgivable loans to new and expanding businesses through the Economic Development Set-Aside (EDSA) program. The program is funded with federal Community Development Block Grant (CDBG) funds provided to the state on an annual basis. Applications must come from cities under 50,000 residents (excluding Cedar Falls) or counties. Awarded funds pass from the state to the city or county and then on to the business receiving the assistance. Applicants are eligible for funding for the creation of new jobs or the retention of existing jobs that would otherwise be lost. To be eligible for assistance, applicants must meet qualifying wage threshold requirements. At least 51% of the permanent jobs created or retained by the proposed project must be taken by or made available through first consideration activities to persons from low-and moderate-income families.  Projects must demonstrate a financing gap.  All federal CDBG regulations apply to projects.