Entrepreneur Support
The Corridor is ripe with resources available to aspiring entrepreneurs and business owners to create here. Uptown Marion Main Street provides a range of business support, making Uptown Marion the easy choice to start and grow a business. In partnership with local and state organizations, Uptown Marion Main Street provides:
- Business Advocacy and Support
- Educational Workshops and Trainings
- Networking Events
- Financial Opportunities and Resource Navigation
- Grant Writing Support
- District Data and Statistic Collection
Cowork 1107 is developed by Uptown partner, Marion Economic Development Corporation (MEDCO), to offer space for the Marion community to cowork, connect, and collaborate. Cowork 1107 offers a shared, community-driven workspace for location-independent workers and entrepreneurs.
Whether you need desk space for the day or private executive level accommodations to host a prospective client, this is the space for you! Cowork 1107 is located at 1107 7th Avenue, Suite 201 inside the beautiful Broad and Main on 7th in Uptown Marion. Overlooking City Square Park, Cowork 1107 is the living room of the business community and co-located with Marion Economic Development Corporation.
As a member, you will not just be a customer of Cowork 1107, you’ll be an active part of what Cowork 1107 is and does for you and for others. Learn more: www.cowork1107.org
Whether you need desk space for the day or private executive level accommodations to host a prospective client, this is the space for you! Cowork 1107 is located at 1107 7th Avenue, Suite 201 inside the beautiful Broad and Main on 7th in Uptown Marion. Overlooking City Square Park, Cowork 1107 is the living room of the business community and co-located with Marion Economic Development Corporation.
As a member, you will not just be a customer of Cowork 1107, you’ll be an active part of what Cowork 1107 is and does for you and for others. Learn more: www.cowork1107.org
Available Financing
Open 4 Business Competition
tOVERVIEW
Open 4 Business was developed by Main Street Iowa and the Iowa Economic Development Authority, in partnership with Uptown Marion and Main Street communities around the state, to help provide local financial and technical support for business retention, expansion, and recruitment efforts within each Main Street district. The Open 4 Business competition is an opportunity for Uptown Businesses to receive seed financing and business support to grow in Uptown Marion!
Businesses must be open for at least 1 year to qualify.
Apply HERE for the local round
2024 TIMELINE:
April 1 - Local Applications Open
April 11 - Local Applications Due
April 12 - Local Competition (Time TBA)
April 15-26 - Local Winner Produces Video for State Competition
May 1 - State Application Deadline
June 12 - State Panel Interviews
June 17 - State Finalist Notifications
August 5 - State Competition
PRIZES:
2023 Local Winner: Uptown Coffee Company ($1,000)
2022 Local Winner: The Marion Chocolate Shop ($1,000)
2021 Semi Finalist: The Grill Works ($14,000)
2020 Local Winner: The Grill Works ($1,000)
2019 Local Winner: Roots in Bloom ($1,000)
2018 Semi Finalist: SugarMe ($14,000)
2017 Local Winner: Ramsey’s Wine Bistro ($1,000)
2016 Local Winner: Synergy Metalworks ($1,000)
2015 Local & Regional Winner: Giving Tree Theater ($10,500)
CONTACT INFORMATION
Brooke Prouty
Uptown Marion Main Street
319-743-4726
[email protected]
Open 4 Business was developed by Main Street Iowa and the Iowa Economic Development Authority, in partnership with Uptown Marion and Main Street communities around the state, to help provide local financial and technical support for business retention, expansion, and recruitment efforts within each Main Street district. The Open 4 Business competition is an opportunity for Uptown Businesses to receive seed financing and business support to grow in Uptown Marion!
Businesses must be open for at least 1 year to qualify.
Apply HERE for the local round
2024 TIMELINE:
April 1 - Local Applications Open
April 11 - Local Applications Due
April 12 - Local Competition (Time TBA)
April 15-26 - Local Winner Produces Video for State Competition
May 1 - State Application Deadline
June 12 - State Panel Interviews
June 17 - State Finalist Notifications
August 5 - State Competition
PRIZES:
- $1,000 – Uptown Marion Winner (advances to State Competition)
- $5,000 – Semi-Finals Winner (advances to Finals Competition)
- $20,000 – Statewide Winner
- Businesses will be required to complete an entry form and make a 5 minute “sales pitch” about their business to a panel of judges. This will be followed by up to 5 minutes of q&a from the judges.
- Sales pitch may include a PowerPoint presentation, samples, and props if desired. Be creative and have fun!
- The winner of the local competition will create a video to submit for the state competition.
- Competition winners at the state level will be reimbursed funds upon submission of receipts showing funds used towards agreed upon eligible expenses with cash match requirements.
- Business must be located in the Uptown Marion District.
- Businesses must be open and operating for one year to apply. (May 2023)
- Business must be a for-profit business.
- Businesses must provide a 25% cash match toward the business development efforts outlined in their business pitch. It is important to show you have some “skin in the game”.
- While all businesses are welcome to apply, preference will be given to those in the retail and food services industries in order to fill a current gap in Uptown Marion. Preference will also be given to those open until at least 6:00pm M-F and have hours of operations on Saturday.
- Any business that competed at the state level in 2023 is NOT eligible to apply.
- What are the Uptown Marion District boundaries?
View our district map - What businesses currently exist in Uptown Marion?
View our business directory - What properties are currently for sale and lease in Uptown Marion?
View our available real estate listing - How do I learn more about Uptown Marion and Main Street?
Contact us
2023 Local Winner: Uptown Coffee Company ($1,000)
2022 Local Winner: The Marion Chocolate Shop ($1,000)
2021 Semi Finalist: The Grill Works ($14,000)
2020 Local Winner: The Grill Works ($1,000)
2019 Local Winner: Roots in Bloom ($1,000)
2018 Semi Finalist: SugarMe ($14,000)
2017 Local Winner: Ramsey’s Wine Bistro ($1,000)
2016 Local Winner: Synergy Metalworks ($1,000)
2015 Local & Regional Winner: Giving Tree Theater ($10,500)
CONTACT INFORMATION
Brooke Prouty
Uptown Marion Main Street
319-743-4726
[email protected]
Uptown sign & awning grant
OVERVIEW
Uptown Marion Main Street is sponsoring a Business Signage & Awning Grant Program, which is intended to stimulate improvements to the exterior of commercial building in the Uptown Marion District.
Who is eligible: Owners and/or tenants of existing commercial buildings within the Uptown Marion District. Tenant applicants are required to submit written evidence of building owner’s approval of the application (if applicable). Maximum grant amount: $1,000, requiring a 1:1 match (at least 50 percent of the cost of the project must be paid for by the owner). One grant will be awarded per business. Grant monies will be distributed to awarded recipients on a reimbursement basis. Annual funding is limited. Awards will be granted on a first-come first-served basis. Please contact Uptown Marion Main Street prior to beginning any work to make sure funds are available.
PROGRAM DETAILS / APPLICATION
Click here to download for more information about the grant program, including eligible uses and the application process.
ADDITIONAL RESOURCES
CONTACT INFORMATION
Brooke Prouty
Uptown Marion Main Street
319-743-4726
[email protected]
Uptown Marion Main Street is sponsoring a Business Signage & Awning Grant Program, which is intended to stimulate improvements to the exterior of commercial building in the Uptown Marion District.
Who is eligible: Owners and/or tenants of existing commercial buildings within the Uptown Marion District. Tenant applicants are required to submit written evidence of building owner’s approval of the application (if applicable). Maximum grant amount: $1,000, requiring a 1:1 match (at least 50 percent of the cost of the project must be paid for by the owner). One grant will be awarded per business. Grant monies will be distributed to awarded recipients on a reimbursement basis. Annual funding is limited. Awards will be granted on a first-come first-served basis. Please contact Uptown Marion Main Street prior to beginning any work to make sure funds are available.
PROGRAM DETAILS / APPLICATION
Click here to download for more information about the grant program, including eligible uses and the application process.
ADDITIONAL RESOURCES
CONTACT INFORMATION
Brooke Prouty
Uptown Marion Main Street
319-743-4726
[email protected]
Marion revolving loan fund
OVERVIEW
The purpose of the City of Marion and Marion Chamber of Commerce Revolving Loan Fund (RFL) is to provide business creation and expansion assistance for small businesses located within the City of Marion boundaries. The RFL supports a diversified economy including small locally owned businesses in the retail, office, services, nonprofit, and food markets. Through the establishment of this RLF, the City of Marion and Marion Chamber of Commerce intends to:
CONTACT INFORMATION
East Central Iowa Council of Governments
700 Sixteenth Street, Suite 301
Cedar Rapids, IA 52402
319-365-9941
Learn more
The purpose of the City of Marion and Marion Chamber of Commerce Revolving Loan Fund (RFL) is to provide business creation and expansion assistance for small businesses located within the City of Marion boundaries. The RFL supports a diversified economy including small locally owned businesses in the retail, office, services, nonprofit, and food markets. Through the establishment of this RLF, the City of Marion and Marion Chamber of Commerce intends to:
- Create new jobs and retain existing jobs
- Aid small business development
- Increase per capita income
- Increase the tax base
- Stabilize and diversify the area economy by providing employers with capital for start-up and/or expansion of locally owned businesses.
- Redevelop and/or reuse blighted or vacant land and facilities in order to put them to productive use
- Complement other State and Federal economic development loan programs
- Aid businesses owned and operated by minorities, women, or by persons who are economically disadvantaged
- Leverage the minimum amount of public dollars with the maximum amount of private dollars
- Identify potential sources of additional capital for sustained growth and viability of the fund
CONTACT INFORMATION
East Central Iowa Council of Governments
700 Sixteenth Street, Suite 301
Cedar Rapids, IA 52402
319-365-9941
Learn more
SBA Programs
504 PROGRAM
The SBA 504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
SBA 7(a)
The 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes.
MICROLOAN
The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.
More information.
The SBA 504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
SBA 7(a)
The 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes.
MICROLOAN
The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.
More information.
TSB Program
The Targeted Small Business (TSB) loans are available to businesses that are eligible for TSB certification - are 51% or more owned and actively managed by a female, an individual with minority status, a service-disabled veteran or an individual with disability. Loan eligibility is not dependent on TSB certification, however, it is strongly encouraged that once the entity is in business that they become a certified TSB.
- Loans up to $50,000 for TSBs looking to start or expand
- Funds can be used for business improvements and expenses, including but not limited to, the purchase of equipment, furnishings, inventory and specific operating expenses
- Funds cannot be used for the purposes of purchasing or investing in real estate
- TSB certification is not required
NewBoco
NewBoCo makes our state more resilient to a changing economy by supporting entrepreneurship, innovation, and tech education. Specific to entrepreneur success in our ICR region, NewBoCo's focus has been on the following:
Startup Accelerators - NewBoCo's world-class startup accelerators are exactly what your big idea needs to find product-market fit and adapt to be competitive and sustainable in rapidly changing markets. https://newbo.co/entrepreneurship/accelerators/
Vault Coworking - Vault is NewBoCo’s coworking space designed to promote collaboration and community in the New Bohemia District in downtown Cedar Rapids. https://newbo.co/vault-coworking/
Microlending Through Kiva - There is a lack of affordable microloans available to small business owners and budding entrepreneurs. It’s difficult to get capital unless you make it to a certain size, with a certain revenue under your belt. And if you’re a woman, a person of color, someone with a low or no credit score, it’s even more difficult.
To address this challenge here in the state of Iowa, NewBoCo partnered with a global nonprofit organization called Kiva to create a statewide Hub for Iowa that gives these entrepreneurs access to a microlending platform to raise zero interest, zero fee, extended grace period loans from active lenders motivated by social impact. These loans range from $1-$15k and lenders can give as little as $25 at a time. https://newbo.co/kiva
Services for Startups - NewBoCo offers web and application development, Agile and leadership coaching, creative and design services, marketing, WordPress development, hardware prototyping and engineering, and more. NewBoCo Studios: NewBoCo offers services that include web and application development, design and creative services, marketing, WordPress development, and hardware engineering and prototyping to take your big idea or product to market. https://newbo.co/innovation/studios/ Innovation Services: NewBoCo offers opportunities that range from 1-hour webinars to our 1-year Intrapreneur Academy and focus on areas of internal and external leadership, building a culture of innovation, and working with an Agile mindset. https://newbo.co/innovation/services/
Startup Accelerators - NewBoCo's world-class startup accelerators are exactly what your big idea needs to find product-market fit and adapt to be competitive and sustainable in rapidly changing markets. https://newbo.co/entrepreneurship/accelerators/
Vault Coworking - Vault is NewBoCo’s coworking space designed to promote collaboration and community in the New Bohemia District in downtown Cedar Rapids. https://newbo.co/vault-coworking/
Microlending Through Kiva - There is a lack of affordable microloans available to small business owners and budding entrepreneurs. It’s difficult to get capital unless you make it to a certain size, with a certain revenue under your belt. And if you’re a woman, a person of color, someone with a low or no credit score, it’s even more difficult.
To address this challenge here in the state of Iowa, NewBoCo partnered with a global nonprofit organization called Kiva to create a statewide Hub for Iowa that gives these entrepreneurs access to a microlending platform to raise zero interest, zero fee, extended grace period loans from active lenders motivated by social impact. These loans range from $1-$15k and lenders can give as little as $25 at a time. https://newbo.co/kiva
Services for Startups - NewBoCo offers web and application development, Agile and leadership coaching, creative and design services, marketing, WordPress development, hardware prototyping and engineering, and more. NewBoCo Studios: NewBoCo offers services that include web and application development, design and creative services, marketing, WordPress development, and hardware engineering and prototyping to take your big idea or product to market. https://newbo.co/innovation/studios/ Innovation Services: NewBoCo offers opportunities that range from 1-hour webinars to our 1-year Intrapreneur Academy and focus on areas of internal and external leadership, building a culture of innovation, and working with an Agile mindset. https://newbo.co/innovation/services/
Iowa Small Business collateral support program
Iowa’s SSBCI dollars will focus on encouraging venture capital and investment in scalable innovation companies through multiple programs including the Small Business Collateral Support Program.
Through the Small Business Collateral Support Program, the state of Iowa can provide Socially and Economically Disadvantaged (SEDI) owned businesses up to 40% of a collateral gap needed to secure a loan through a commercial lender for loans ranging in size of $75,000 to $250,000. This program is intended to help eligible small businesses that are 51% or more owned by women, minorities, veterans, individuals with disabilities, and long-term rural residents and includes small businesses that enhance arts and culture in Iowa.
More Information
Through the Small Business Collateral Support Program, the state of Iowa can provide Socially and Economically Disadvantaged (SEDI) owned businesses up to 40% of a collateral gap needed to secure a loan through a commercial lender for loans ranging in size of $75,000 to $250,000. This program is intended to help eligible small businesses that are 51% or more owned by women, minorities, veterans, individuals with disabilities, and long-term rural residents and includes small businesses that enhance arts and culture in Iowa.
More Information
Iowa Manufacturing 4.0
The manufacturing sector is ushering in new advancements in automation and smart technology with the fourth industrial revolution, known as Manufacturing 4.0. Accounting for nearly 18% of the state’s GDP, advanced manufacturing is Iowa’s largest industry sector. Given the significance in the state, the Iowa Economic Development Authority (IEDA) recognizes the critical need in examining manufacturers’ abilities to incorporate innovative technologies, ensuring they continue to remain globally competitive. IEDA released an industry-led Manufacturing 4.0 Strategic Plan that includes recommendations for navigating the Manufacturing 4.0 journey.
More Information
More Information
