Community Economic Betterment Account (CEBA)

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The 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:

• Building construction or reconstruction
• Land or building acquisition
• Equipment purchases
• Operating and maintenance expenses
• Site development - clearance, demolition and building removal
• Working capital

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 $100,000.