Iowa City has announced a new grant program, the Targeted Small Business Development Grant Program, designed to support local entrepreneurs and small businesses.

This initiative offers up to $5,000 in funding, business coaching, and technical assistance to help business owners overcome growth challenges, according to Corridor Business Journal.

To qualify for the program, businesses must be based in Iowa City and meet several criteria. They should operate for profit, have annual gross revenues under $4 million (averaged over the last three years), and be at least 51% owned and managed by women, minorities, service-disabled veterans, or individuals with disabilities.

Applicants who are not yet certified as a Targeted Small Business (TSB) will need to obtain this certification by the grant’s end. This effort is part of Iowa City’s commitment to inclusive economic development and aligns with the City Council’s goal to bolster home-grown businesses through enhanced technical support.

The application process is currently open, with a deadline set for 3 p.m. on Wednesday, November 6, 2024.

Applications can be submitted online at www.icgov.org/TSB.

This article, “Iowa City Launches Grant Program to Boost Local Small Businesses” was first published on Small Business Trends