Section 281.56.31. Program requirements.

 Clients of the division or the department for the blind may apply for the program. All of the following conditions are also applicable:

            1.      The division may limit or deny ISE assistance to an applicant who has previously received educational or training equipment from the division through another rehabilitation program when such equipment could be used in the applicant’s proposed business.

            2.      Any equipment purchased for the applicant under this program that is no longer used by the applicant may be returned to the division, at the discretion of the division.

            3.      An applicant must demonstrate that the applicant has at least 51 percent ownership in a for-profit business that is actively owned, operated, and managed in Iowa.

            4.      Recommendation for and approval of financial assistance is based upon acceptance of a business plan feasibility study and documentation of the applicant’s ability to match dollar-for-dollar the amount of funds requested.

            5.      In order to receive financial support from the ISE program, the applicant’s business plan feasibility study must result in self-sufficiency for the applicant as measured by earnings that equal or exceed 80 percent of substantial gainful activity.

            6.      The division cannot support the purchase of real estate or improvements to real estate.

            7.      The division cannot provide funding to be used as a cash infusion, for personal or business loan repayments, or for personal or business credit card debt.

            8.      The division may deny ISE assistance to an applicant who desires to start, expand, or acquire any of the following types of businesses:

            ●       A hobby or similar activity that does not produce income at the level required for self-sufficiency;

            ●       A business venture that is speculative in nature or considered high risk by the Better Business Bureau or similar organization;

            ●       A business registered with the federal Internal Revenue Service as a Section 501(c)(3) entity or other entity set up deliberately to be not for profit;

            ●       A business that is not fully compliant with all local, state, and federal zoning requirements and all other applicable local, state, and federal requirements;

            ●       A multitiered marketing business.

[ ARC 2844C , IAB 12/7/16, effective 1/11/17]