Category: Iowa State Incentives, Grants & Loans
The Iowa Capital Access Program (ICAP) assists Iowa businesses secure the financing they need to launch, retain, or expand business operations in Iowa. ICAP encourages banks and other eligible financial institutions to consider small business loans that fall outside of conventional underwriting criteria by providing loan portfolio insurance to reduce lender risk and help businesses retain and create jobs for Iowans.
ICAP is a public-private partnership that injects a small amount of public assistance to leverage significant private financing for Iowa businesses. The Iowa Economic Development Authority (IEDA) has $5 million of funding available for the ICAP. This program is expected to support approximately 1,500 loans and leverage nearly $100 million of private lending during the first five years of the program. This innovative and proven program has assisted with the creation and retention of tens of thousands of jobs in several other states.