Starting or growing a small business is next to impossible without access to capital. If you are a current or aspiring small business owner who has lived in Iowa for more than six months, your business or business idea may be eligible for a loan with The Iowa Center.

What We Offer

  • Loans up to $30,000 (or higher based on funds availability)
  • Annual fixed 6% interest rate
  • Fixed monthly payments
  • No pre-payment penalties
  • Up to 5-year terms
  • No down payment
  • Origination fee rolled into loan or paid up front


  • Our loans can be used for most business purposes to develop and grow your business but cannot be used to purchase or develop real estate or refinance debt.
  • We offer business support to our loan applicants and borrowers.
  • We can help you improve your credit history.
  • Our flexible underwriting guidelines were developed for small businesses. No business is too small to apply.
  • Your time is valuable. Our application is straightforward and we will help you create your loan application package. Schedule an appointment to get started.

Loan Timeline

  • Meeting with Client Services Manager
  • Attend 1 session of Always Ready Loan Prep (held every other week–find schedule here)
  • Final meeting with Loan Coordinator and application submission
  • 4-6 weeks for document review, underwriting, and loan committee approval. (Note: review time varies)

If you would like to learn more about the loan program, schedule a meeting here.

Targeted Small Business Program

The Targeted Small Business Program Certification and Loan Application is handled through the Iowa Economic Development Authority. For more information on the Targeted Small Business Program or to begin the application process, please contact the TSB team at the Iowa Economic Development Authority

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