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IA
Small Business Collateral Support Program (SSBCI / SEDI)
State collateral support covering up to 40% of a collateral gap to help Socially and Economically Disadvantaged (SEDI)-owned businesses, including minority-owned businesses, secure commercial loans ranging from roughly $50,000 to $250,000.
About this program
Visit the program website for full details.
Eligibility
Iowa small businesses with fewer than 125 employees that are 51% or more owned, operated, and actively controlled by a SEDI individual, including members of a minority group, facing a collateral shortfall on a commercial loan.
Requirements
- At least 51% owned, operated, and actively controlled by a SEDI/minority individual
- Fewer than 125 employees
- Iowa-based business with a creditworthy loan request