Section 261.60.3. Eligibility requirements.

       60.3(1) In order to be eligible for assistance, the business, or proposed business, must be located in the state of Iowa.

       60.3(2) If the business is a sole proprietorship or a partnership, all applicable business owners must apply. If the business is a limited liability company, a limited liability partnership, or a corporation, the application must be submitted and signed by an individual who has been authorized by the business to do so.

       60.3(3) In order to be eligible for assistance, the business owner or owners (or appropriate individual(s) in a limited liability company, limited liability partnership or corporation) must consult with and obtain a letter of endorsement from an IDED-approved business accelerator or from another recognized entrepreneurial development organization such as a John Pappajohn Entrepreneurial Center (JPEC), a Small Business Development Center (SBDC), or an equivalent organization recognized by IDED.

       60.3(4) In order to be eligible for assistance, the individual or business must have a business plan which details the business’s growth strategy, management team (if applicable), production/management plan, marketing plan, financial plan, and other standard elements of a business plan.