Low and Moderate Income Owned Business Assistance Grant

The City of Dubuque has established the $3,000 Low and Moderate Income Owned Business Assistance Grant to assist low and moderate income owned businesses.

Applications are now closed. 

Seven (7) grants have been awarded in 3rd Quarter 2022, with another seven (7) grants to be awarded in 4th Quarter 2022.

Small Business Grant Recipients

Qualifications

  • Applicants must live in a household at or below 80% area median income
  • Businesses must have conducted business for at least 12 months and have filed 2021 taxes.

The goal of the grant program is to not just cover current expenses with grant funds, but also to develop strategies for continued success. The City is partnering with the Fountain of Youth Program to administer the grant. Grant recipients will be matched with a business mentor and will be required to participate in an eight-week personal and professional development program facilitated by the Fountain of Youth. These qualifying requirements are meant to provide ongoing support to the business owner in their efforts to improve business practices and increase income. 

Funds are provided in the form of a reimbursement grant for eligible expenses, conditional upon the individual’s participation in both personal and professional development activities. This serves two purposes:

  1. t provides short-term assistance to keep the business afloat while the economy inches back toward a recovery; and
  2. it positions the business owner to improve the business over the long term due to the personal and professional development activities required to remain eligible for the funds. (Studies show that small business owners who receive three or more hours of mentoring report higher revenues and increased growth.)

Applications will be reviewed for eligibility in the order of submission. Previous grant recipients are not eligible for award.

Contact Economic Development Director Jill Connors with questions.