The City of Iowa City has launched a new grant program opportunity for Iowa City-based small business owners and entrepreneurs who fall under the Targeted Small Business definition. The Targeted Small Business Development Grant Program pairs up to $5,000 in grant funding with business coaching, support, and technical assistance services designed to uniquely address awarded applicants’ barriers to business growth and development. This grant opportunity is open to any Iowa City-based business owner or entrepreneur who is certified or eligible to become certified as a Targeted Small Business (TSB). Selected applicants who do not currently hold a TSB designation must commit to applying before the end of the grant term. To be eligible for TSB certification, businesses must be located in the state of Iowa, operating for a profit, and make less than $4 million in gross income, computed as an average of the preceding three fiscal years. Additionally, businesses must be majority owned, operated, and managed by a female, individual with minority status, service-disabled veteran, or individual with a disability. The grant program aims to elevate small business potential in our community over the long term and aligns with the City Council’s Strategic Plan initiatives to support inclusive economic development.
