State Treasurer of Iowa

LIFT: Linked Investments for Tomorrow

If you are a person seeking funds to create a small business or expand your current small business, then look no further than the State Treasurer’s Linked Investments for Tomorrow (LIFT) program. LIFT provides capital to small businesses owned and operated by Iowa residents. One-half of the monies allocated for the program will be available to small businesses that are 51% or more owned, operated and actively managed by one or more women, minority persons or persons with disabilities.

How does LIFT work?

Interested small businesses must contact their financial institution to complete the normal lending process. Lenders will then submit an online application for borrowers and businesses they believe are eligible to the State Treasurer’s Office for review. Once approved, the State Treasurer will purchase a certificate of deposit (CD) from the financial institution for a rate three percent below the one-year Treasury bill rate, with a minimum rate of one percent. The financial institution will loan those funds to the borrower at a rate up to, but not exceeding, four percent above the CD rate. The maximum amount available to the borrower is $200,000 for a total term of up to five years. The State Treasurer’s Office does not guarantee the loan nor is the CD collateral for the loan. For more information, visit

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  • The combined net worth of the borrowers and owners of the business cannot exceed $975,000.
  • Existing small businesses must have annual gross sales of $2 million or less at the time of application.
  • The maximum amount of assistance that a borrower or business may receive is $200,000.
  • The loan may be used for the purchase of land, improvements, fixtures, machinery, inventory, supplies, equipment, information technology, licenses, patents, trademarks or copyright fees and expenses.
  • Loan proceeds shall not be used to finance existing debt.
  • The business must be for-profit.
  • The borrower must not have received financial assistance from the LIFT program prior to July 1, 2006.
  • Home businesses must qualify for a tax deduction for that portion of the home used for business pursuant to regulations of the Internal Revenue Service.
  • Loan proceeds cannot be used for real estate investments, rental, leasing or speculation.
  • Liquor, beer and wine sales must not exceed 20% of annual sales for establishments holding a class “C” liquor license.
  • Borrowers cannot be delinquent in making child support payments or any other payments due to the State.
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