LIFT Small Business Loan Program

Looking for funding to start or expand your small business?

The Small Business Linked Investments for Tomorrow (LIFT) Program, through the state treasurer’s office, provides capital for small businesses owned and operated by Iowa residents. The program reserves at least half of the available funding for small businesses 51% or more owned, operated or actively managed by women, minorities or persons with disabilities.

The loan may be used to purchase land, improvements, fixtures, machinery, inventory, supplies, equipment, information technology, licenses, patents, trademarks, or copyright fees and expenses.

The combined net worth of the borrowers and business owners cannot exceed $975,000. Existing small businesses must have annual gross sales of $2 million or less at the time of application. The maximum loan amount for a borrower or business is $200,000.

If approved, the state treasurer purchases a certificate of deposit from the lender at 3% below the one-year Treasury bill rate. The minimum rate for a certificate of deposit is 1%. The lender may charge the borrower up to, but not more than, 4% above the certificate of deposit rate.

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