Finance Roll

If you intend to start a business of your own and finding out options for investment capital, State of Iowa and the federal government offer you some great options. These government bodies provide a host of loan options to suit the set-up and expansion of different businesses. These schemes aim at encouraging small businesses to actively participate in the nation's economic development and create employment avenues for the local people.

Various government departments have been given the duty for providing such assistance in financing business start-ups. The government has categorized its various departments to work closely with specific business categories. Some of these departments and their financing activities are described below:

Small Business Administration (SBA):
The federal body offers financial assistance mainly to small businesses. It offers advice on several ways in which a business can be started and managed. It also guides the owners of such businesses through the procedures of obtaining the government contracts. The agency gives the needy companies access to low interest loans, in case they are enduring the most of a disaster declared nationally.

There are two offices of SBA in Iowa, which work in close coordination with the private sector, government bodies both state and local, federal government, and educational community to provide financial assistance to owners of small business.

US Department of Agriculture (USDA):
USDA provides financial assistance in the form of loan provisioning to those communities, which no not have more than 20,000 members. USDA offers financial assistance to the members of such communities through several programs providing Rural Business Enterprise Grants, Business & Industrial Guaranteed Loans, Rural Economic Development Loans, and Rural Economic Development Grants.

USDA's Small Business Office (SBO) also gives financial assistance to disadvantaged businesswomen by appointing them as federal contractors.

US Department of Commerce (USDC):
USDC helps small business to carry out export and import activities, to let them grow and expand operations. This government body also runs a Minority Business Development Agency that is responsible for establishment, growth, and expansion of businesses owned by minorities.

Besides, there are Veterans Administration (VA) and Internal Revenue Service (IRS) departments. The VA runs Centre for Veterans Enterprise (CVE) that gives financial assistance to veterans to start up businesses. The IRS offers a comprehensive guide for small business resources.

The State of Iowa:
This body offers several programs to provide the small businesses financial assistance. The body works in close coordination with the Department of Economic Development to the small business owners programs such as Targeted Small Business Financial Assistance Program (SBFAP), Self-Employment Loan Program (SELP), Entrepreneurs with Disabilities (EWD), Assistive Device Tax Credit, and Entrepreneurial Ventures Assistance (EVA).