Community Economic Betterment Account (CEBA)

The Community Economic Betterment Account (CEBA) program provides financial assistance to companies that create new employment opportunities and/or retain existing jobs, and make new capital investment in Iowa. The amount of funding is based, in part, on the number of jobs to be created/retained. Funds are provided in the form of loans and forgivable loans. Projects eligible for CEBA funding include, but are not limited to, the following:

CEBA investments should not be considered a sole funding source. The program leverages other financial support such as bank financing and private investment.

The CEBA program also contains a "Venture Project" component specifically designed for early-stage and start-up businesses. Financial assistance is provided in forms conducive to the company's stage of maturity. The "Venture Project" component allows for longer-term job creation and investment performance periods than otherwise offered through CEBA.

The CEBA program can provide assistance up to $1 million. As an alternative, non-traditional, short-term float loans or interim loans greater than $1 million may be available. The funding level for start-up companies varies depending upon employee wage rates. Assistance through CEBA's "Venture Project" component is provided as an "equity-like" investment, with a maximum award of $250,000.

Businesses interested in the program should contact the Iowa Department of Economic Development along with relevant local organizations to determine eligibility or to obtain information specific to your needs. Eligible applicants may apply for benefits by completing the Project Review Form.