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Financial Resources

According to the 2013 Laborshed Survey data analyzed for both Hamilton and Wright counties, the number one obstacle for people who are interested in starting a business in this area was ‘access to start up funds’.

belmondBelow is a listing of some of the key programs identified, along with a list of statewide programs that the region can use to supplement any gaps.  It is recommended the list be used to learn more about financial programs available locally and at the statewide level, then determine which programs can be easily replicated, better marketed, or if a new program should be created.

Keep in mind that different kinds of entrepreneurs require access to different kinds of funding.  The listing here reflects this.  Equity financing is typically found outside of the county or even at the regional level in Iowa.

Local Resources

Grants & Micro Lending

Traditional Debt Financing

  • 21 Banks (Eight in Hamilton; 13 in Wright); Five banks are SBA preferred

  • 15 Revolving Loan Funds (eight in Hamilton; ten in Wright)

    • Mid-Iowa Development Association (MIDAS), Corn Belt Power Cooperative, Webster City Association of B&I, Stratford Mutual Telephone Coop, Midland Power Coop, Ellsworth Coop Telephone Association, Prairie Energy, Central Iowa Power Coop, City of Belmond, Humboldt County Rural Electric Coop, Eagle Grove Community Development Group (Chamber), Heartland Power Coop, North Iowa Area Community College, Franklin Rural Electric Coop, and Wright County Economic Development.

Equity Financing

Key Statewide Resources

Grants & Micro Lending

  • Community Economic Betterment Account Program

    • Community applies on behalf of a local business for a loan (can be forgivable).

  • Dream Big Grow Here (

    • Online business grant program for Iowa entrepreneurs.

  • Iowa Business Plan Competition (

    • The five John Pappajohn Entrepreneurial Centers offer an annual business plan competition for Iowa startups less than four years old.

  • Iowa Economic Development Authority (

    • The Iowa Economic Development Authority has a number of financial assistance programs for firms that will have significant job impact. Examples include the Demonstration Fund, Iowa Small Business Loan Support Program, and more.

  • Iowa Small Business Loan Support Program (

    • Provides Iowa entrepreneurs access to a loan for business purposes. Can come with a $500 grant toward technical assistance.

  • IowaMicroLoan (

    • Loans are available to Iowans who have previously been turned down by a bank for traditional commercial financing.

  • Targeted Small Business Program (

    • The Iowa Economic Development Authority, in conjunction with ISED Ventures, provides low interest micro loans to business owners who are minority, disabled, or female.

  • USDA Renewable Energy for America Program (

    • Funding for renewable energy and energy efficiency projects.

Traditional Debt Financing

  • Demonstration Fund (

    • Financial assistance to encourage high technology prototype and concept development activities for entrepreneurs.

  • Iowa Able Business Loan Program (

    • Loans for individuals with disabilities who wish to start or expand a business.

  • Iowa Area Development Group (

    • Funding opportunities and financial packaging.

  • Iowa Innovation Expansion (

    • The Innovation Expansion program is designed to assist existing Iowa companies with financing to support innovative product expansion activities.

Venture Capital and Equity Funds Serving Iowa

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