Iowa Economic Development Authority (IEDA) – Targeted Small Business Program
Iowa’s Targeted Small Business (TSB) program is designed to help women, individuals with minority status, service-connected disabled veterans and individuals with disabilities overcome some of the hurdles to start or grow a small business in Iowa.
AboutCERTIFICATION CRITERIA To be eligible for TSB certification or a loan, businesses must be: • Located in the state of Iowa • Operating for a profit • Make less than $4 million in gross income, computed as an average of the preceding three fiscal years • Majority owned (51 percent or more), operated and managed by a female, individual with minority status, service disabled veteran or individual with a disability BENEFITS OF CERTIFICATION • Listing in the online Targeted Small Business Directory (iowa.gov/tsb), which is used by public and private buyers across the state • Invitation to TSB networking and TSB-exclusive events to meet with other business owners, public purchasing managers and private buyers • Introduction to partners who aid with state purchasing, growing your business or connections to other business networks through workshops, webinars and other events • Promotion of your business as a Certified TSB utilizing the TSB badge on your social media, website and marketing channels, as well as with the TSB window cling received upon certification All Iowa state agencies are required to establish annual TSB spending projections and report quarterly TSB performance goals. By becoming a TSB and selling products and services to the state, TSBs help Iowa state agencies meet TSB procurement goals. STATE PROCUREMENT BENEFITS: • Access to a bid notification site to view state procurement opportunities 48-hours in advance of posting to the state’s public site. Businesses receive a link and password for the 48-hour website upon certification. • Ability to access non-competitive bid opportunities for purchases under $10,000 • Bond waivers up to $50,000 for state projects, if unable to secure a bond because of the lack of experience, net worth or capital State agencies have different levels of procurement authority with unique needs; TSBs are encouraged to be proactive in marketing to them. A list of what the state purchases, agent contact information or to learn how to become a registered vendor with the state, visit das.iowa.gov/procurement. LOANS The same criteria is required for businesses to be eligible for a Targeted Small Business loan offered through the Iowa Center for Economic Success, although certification is not required. For businesses looking to start or expand, loans are available up to $50,000. • Loan funds can be used for business improvements and expenses, including (but not limited to) the purchase of equipment, furnishings, inventory and specific operating expenses • Loan terms include favorable fixed interest rates, fixed monthly payments and non-pre-payment penalties.. • Loans and loan applications are managed by the Iowa Center for Economic Success.
Financial Resources and Assistance
- Loan Providers (Specialty)
Selling to the Government and Large Corporations
- Obtaining Government Contracts
- Subcontracting Opportunities
- Women, Minority & Business Disadvantaged Certification
- Targeted Small Business Certification (Specialty)
1963 Bell Ave
Des Moines, IA 50315
1963 Bell Ave
Des Moines, IA 50315