In Focus: Some schemes, initiatives & grants for women entrepreneurs in Iowa
#WomenInBusiness #IowaEntrepreneurs #EmpowerHer #IowaInnovation #WomenLeaders #BizSupport
Iowa or “The Hawkeye State” is rapidly emerging as a powerhouse for women entrepreneurs – offering a unique blend of opportunities, support systems & a thriving community that empowers women to turn their business dreams into reality. Among all 50 states, it was ranked as the ninth best state for female entrepreneurs in 2020 (by Fit Small Business). And, Iowa’s welcoming environment for women in business is supported by a low cost of living and a burgeoning biotech and green energy sector.
These factors make the state especially appealing to women in science and technology fields, who are looking to innovate & grow.
Thriving in the Heartland: How Iowa Supports Women-Led Businesses
The state’s commitment to fostering female entrepreneurship is evident in the resources available. The Iowa Women’s Business Center, for example, has been a cornerstone of support since 1997, offering business training, mentoring, and crucial access to capital.
Additionally, organizations such as the National Association of Women Business Owners (NAWBO) Iowa and the Women’s Entrepreneurs of Iowa (WEI) provide invaluable networking opportunities and community support, ensuring that women entrepreneurs are not only equipped with the tools to succeed but are also connected to a broader ecosystem of like minded individuals.
For women entrepreneurs in Iowa, one could say that the future is bright. With the right resources & community backing, they are well-positioned to lead the way in innovation and economic growth across the state.
Here are some schemes, initiatives & grants for women entrepreneurs in Iowa.
> The Iowa Center
The Iowa Center Women’s Business Center is devoted to helping women business owners in Iowa launch & grow their businesses.
Importantly, The Iowa Center is an economic development organization that basically delivers three lines of direct service to empower entrepreneurs – to launch and grow their small businesses: Business Coaching, Credit + Lending, and Tax Services. Business Coaching involves – Skills-based learning in the classroom and one-on-one settings focused on the five fundamentals: strategy, financials, marketing, human resources, and legal compliance.
Credit + Lending – Small business loans up to $50,000, paired with education and technical support, through our SBA Microloan Program and Iowa Center Loan Fund CDFI.
Tax Services includes – Year-round tax preparation and planning through VITA programs for individuals, families, and sole proprietors.
> Iowa Center for Economic Success – Women’s Business Center
This organization is geared toward women entrepreneurs, who wish to reach success. They work towards seeing their new businesses flourish or their established businesses become efficient, productive & profitable.
> The University of Iowa – Entrepreneurial Resources
Entrepreneurs throughout the state will be able to garner information about creating successful businesses. Here the offerings are very suitable – the number of classes and programs, seminars and community resources help businesses to make informed decisions.
https://startupsavant.com/womens-business-resources-iowa
Iowa Government Agencies
Small businesses in need of resources to either start or grow their business can find resources such as legal requirements for Iowa businesses, information about federal funding, and help for small businesses owned by women, minorities, veterans, or individuals with disabilities.
The certified 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. Support for TSBs can occur either through an official third-party certification of the business or through the low-interest TSB loan program.
Iowa Small Business Administration – SBA
The Iowa SBA is supported by a district office in Des Moines and an additional office in Cedar Rapids. They provide various services including – funding programs, counseling, federal contracting, certifications, and disaster recovery. They can also connect you to partner organizations, lenders & other community groups – that help small businesses succeed.
Examples of educational programs and events include – How to Make Your Black- Owned Business Attractive to Bankers; Safety and Risk Management; Making Your Marketing Easy and Effective; and Running a Successful Business for Creative Types, Idea People, and Anybody with Passion.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-iowa
Iowa Agencies & Non-profit Organizations
> The Iowa Center’s Women’s Business Center
The Iowa Center’s Women’s Business Center is totally dedicated to helping Iowa women business owners launch and grow their businesses. They sincerely work to inspire women to start businesses and support them in their entrepreneurial journey.
The Iowa Center’s Women’s Business Center can help with:
– Flexible courses designed to help you start or build your small business
– Special topic classes to help you learn more and do better
– One-on-one business counseling
– Help writing press releases and other business writing
– Private credit counseling with certified credit counselors
– Basic loan education and connections to a loan team
– Connections to other Iowa business resources
> Iowa City Area Business Partnership / Iowa City Area Development Group
Formerly known as the Iowa City Area Chamber of Commerce, the Business Partnership serves as the voice of business for Johnson County, Iowa – uniting businesses and community to maintain a strong economy and quality of life. Advocacy efforts, networking events, and other member benefits position members, business leaders and the community for success.
The organization supports partners by: Connecting you to the resources to grow your business; Helping you build your business through promotions & Expanding your network through events and programs. And, it supports the community by: implementing an affordable childcare initiative; delivering workforce solutions and offering legislative forums;
> Iowa Small Business Development Center – Iowa SBDC
America’s Small Business Development Center in Iowa offers a number of facilities. Whether you want to start a business or grow a business they offer personalized, confidential, and no-cost business counseling to small business owners and entrepreneurs.
Incidentally, America’s SBDC Iowa serves all 99 counties in Iowa through 15 regional centers across the state. Iowa SBDC Center locations can be found in Ames, Ottumwa, Davenport, Marion, West Des Moines, Fort Dodge, Mason City, Debuque, Spencer, Creston, Burlington, Iowa City, Cedar Falls, Sioux City, and Council Bluffs.
> Entrepreneurial Development Center – EDC, Inc.
When you work with the Entrepreneurial Development Center, you get one-on-one professional support from seasoned business veterans, who know how to help grow businesses. They help you in a number of ways like – they nurture your skills and knowledge, navigate the appropriate resources & pair you with the right strategic partners when needed.
Services are intended to fill the gaps in your business, no matter your stage of growth.
They include:
– Strategic Planning
– Sales Team Development/Hiring
– Leadership Mentoring
– Market Research and Analysis
– Market Plan Development
– Operations Efficiencies
> National Association of Women Business Owners – NAWBO Iowa
Within NAWBO Iowa, you will find a supportive, educational and energetic environment, whether you are just starting a business or have been a woman business owner for 30 years. The National Association of Women Business Owners (NAWBO) is the premier national organization representing the interests of all women entrepreneurs in all industries.
The NAWBO Iowa community fosters lasting connections and lifelong friendships between women on common ground.
A sampling of NAWBO Iowa event topics include – Holistic Women’s Healthcare, Childcare as a Workforce Issue, Small Business Health Insurance Update, and Create a Business Plan for Your Business.
> New Bohemian Innovation Collaborative – NewBoCo
The New Bohemian Innovation Collaborative (NewBoCo) is an organization located in the New Bohemia neighborhood of Cedar Rapids, Iowa.
Right from the classroom to the boardroom – NewBoCo helps Iowans of all ages succeed in a changing economy because the right tools, mindset, and opportunities can help develop a world-changing innovator.
The organization supports – entrepreneurship, education, and innovation through hands- on programming, technical development, and community building event.
> Iowa Women’s Foundation
The Iowa Women’s Foundation mission is to improve the lives of Iowa’s women and girls. The organization’s resources and focus is on – housing, employment, childcare, education and training, transportation & mentors.
Grantmaking continues to be at the heart of IWF’s work. With this as the guidepost, IWF makes three grant opportunities available to organizations whose work aligns with the organization’s mission.
Core Grants: With a focus on economic self-sufficiency for Iowa’s women and girls. Emergency
Fund Grants: Small, one-time-only cash awards given to nonprofits and grassroots organizations in Iowa that address one of the six barriers to women’s economic self-sufficiency. These awards are to be used for immediate emergency needs of the organization to keep them serving their clients.
Childcare Solutions Fund: CCSF – The CCSF focuses specifically on increasing the number of childcare spaces available for children throughout the state of Iowa.
> SCORE – Quad Cities Chamber of Commerce
SCORE Quad Cities consists of a group of experienced business professionals, who provide guidance to those wanting to start a new small business or to assist existing small businesses in improving their profitability. (The Quad Cities SCORE Chapter covers a territory comprising the counties of Scott, Clinton, Muscatine, Washington, Louisa, Jefferson, Henry, Des Moines, Keokuk, Mahaska, Van Buren, Davis, Appanoose, Wayne, Lucas, Monroe, and Wapello in Iowa, and Rock Island, Henry, Bureau, Mercer, Lee, Henderson, Hancock, Adams, and Whiteside in Illinois.)
Volunteers are successful real-world business professionals who offer thousands of hours to help existing and startup businesses succeed. These volunteers have experience in areas such as accounting, finance, human resources, consulting, import/export, law, operations, production, retail, wholesale, manufacturing, sales, marketing, management, business plan preparation, strategic planning, and many other business disciplines.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-iowa
Funding – State and Federal Sources
> U.S. Small Business Administration – Funding Resources
The U.S. Small Business Administration helps small businesses to get the funding they need. Funding resources include:
Loans: Start or expand your business with loans guaranteed by the SBA
Investment capital: Find an investor for your business. Investors make both debt and equity investments
Disaster assistance: Get help after a disaster with low-interest disaster loans
Surety bonds: Protect your work and your client with an SBA-guaranteed surety bond
Grants: Look for government grants that help businesses do scientific research and development
> Siouxland Economic Development Corporation – SEDC
The Siouxland Economic Development Corporation – SEDC – offers borrowers much more than a loan. They offer borrowers – the opportunity to own instead of rent or modernize instead of just getting by, which allows them to build wealth and guarantee future prosperity.
Loan programs include a SBA 504 Loan (fixed asset financing), Real Estate Revolving Loan Fund (real estate financing), Revolving Loan Fund (gap financing for working capital and/or fixed assets) & Microloans (working capital, inventory, and equipment).
> IASourceLink
IASourceLink provides a comprehensive 24/7 online Resource Navigator, as well as direct services to Iowa small business owners. So, your Iowa-based company can get helpful referrals and monthly free online business webinars. IASourceLink also houses the Business License Information Center, which can assist you in finding any additional licensing required to operate your business in Iowa.
Besides all this, IASourceLink has also published a variety of industry specific and general “How-to” guides to help Iowa entrepreneurs including “Fund Your Business” which discusses Bootstrapping Your Business, Friends and Family Funding, Angel Investors and Venture Capital, Types of Loans Available, SBA and Bank Loans, Iowa Loan Programs, Crowdfunding, Government Grants, Programs and Resources for Agriculture, and Resources for Women, Minority, Veteran, and Disabled Owned Businesses.
IASourceLink is made possible through a partnership between the University of Northern Iowa’s John Pappajohn Entrepreneurial Center (JPEC) and the Iowa Economic Development Authority (IEDA).
> Iowa Business Growth (IBG)
Having begun operations in 1981, Iowa Business Growth (IBG) has a credible, long history of – providing alternative financing resources that complement the more traditional products available through conventional lenders.
IBG’s various programs including the SBA 504 loan program and the New Markets Tax Credit Program, all enhance rather than duplicate or compete with the lending community that it serves. Both the Board and the staff are dedicated – to the goal of assisting small businesses throughout the state of Iowa in their financing needs.
IBG is a certified development company (CDC) that has achieved a high-level certification with the SBA in administering the government’s premier loan program geared toward expanding businesses.
> Iowa Venture Capital Association
Venture capitalists are focused and committed to funding America’s most innovative entrepreneurs. And, they also are involved working hand-in-hand with them – to transform breakthrough ideas into emerging growth companies that drive U.S. job creation and economic growth.
As the voice of the Iowa venture capital community, the Iowa Venture Capital Association provides a meaningful platform for engagement & collaboration between its members to fulfill a shared goal of a strengthened ecosystem. Additionally, the Association empowers its members and the entrepreneurs they fund – by advocating for policies that encourage innovation and reward long-term investment in Iowa.
https://www.lisamasiello.com/women-entrepreneurs-start-a-new-business-in-iowa
Avtar Madan
Himanshu
Shree Lahiri
