Funding-Taxes-Resources-Training for Your Small Business
"Business and economic development" are two of Monona Chamber's top objectives, and we work hard to be an innovative, active leader and participant in expanding Monona's economic well-being (see below for a complete list of objectives). Monona Chamber seeks out, encourages, and mentors potential business owners and young entrepreneurs who are interested in starting a business in Monona, some of whom have little insight about how or where to get started with the long process.
Opportunities exist to rent or buy lower-cost building space in historic downtown Monona, and we'll share our inventory list and let you decide which ones you'd like to tour. Some of these buildings may have an apartment or two above them for a new business owner to live in (when leasing or buying building) or rent out (when buying building) to gain extra revenue to underwrite a portion of other expenses like taxes, building insurance, etc.
We show you several potential funding sources available for you to apply for low-interest loans, which you may use as a bridge loan should your bank or other funding source(s) not loan 100 percent of what you need to start your business venture. Making application is not a guarantee you will get the loan(s). And when applying, each of these funding sources -- including your own banker -- will require any potential borrower / business owner to present his or her written Business Plan. This is a good thing as you'll use your Business Plan during loan processing, business development and start up, ongoing business evaluation, annual goal setting, and with success, business expansion.
Monona Chamber is ready to help you develop your Business Plan with resources, software, training, etc. and we can share a step-by-step workbook and sample plans written for 13 different types of businesses. Your Business Plan will consist of a narrative, several financial worksheets, executive summary, and as you write it you will be researching and thinking about your business in a systematic way.
As you plan for your business, you'll be thinking about everything thoroughly, it will be objective and factual. As you go along developing it, you may learn that some aspect of your business you thought may work will not work at all and you may do things differently or go in an entirely different direction. It takes several weeks to develop a good, complete Business Plan, and it's so worth it for your business' long-term success.
Contact Monona Chamber & Economic Development, Inc. at (563) 539-8340 or stop in at 103 W. Center St. in historic downtown Monona, IA, and let us hel you get started on your path to turning your business idea into your reality.
Monona Chamber's Mission:
To lead economic growth and vitality of the community of Monona, and to support the civic, social and natural resources of the surrounding area.
Monona Chamber's Long-term Objectives:
* Downtown Revitalization
* Promote Business Growth and Population Growth
* Attract New Businesses and Industries to the Monona Area
* Promote In-bound Travel and Tourism
* Increase Membership & Participation in Monona Chamber
The Clayton County Development Group offers a Revolving Loan Fund for those looking to start a new business or to expand an existing business. Funds may be used for equipment, land acquisition, site preparation, building acquisition, building construction, remodeling, machinery and equipment, furniture and fixtures and working capital. All businesses in Clayton County are eligible for the Revolving Loan Fund program provided they are located in the county and the request for a loan is accompanied by a business plan. To apply, please contact the Clayton County Development Group at 563-245-2201 or firstname.lastname@example.org or click on the link above.
This page on the Clayton County Development Group's website has a lot of great links and resources to guide you through the set up of a new business. There are also resources for those of you who have already established a business and are interested in growing or expanding.
Eligible businesses locating in a designated Clayton County Enterprise Zone are authorized under this program to receive certain tax incentives and assistance. The intent of this program is to encourage communities to target resources in ways that attract productive, private investment and positive economic impact for residents.
The Northeast Iowa Business Network was established to promote the growing opportunities for businesses in Northeast Iowa. Visit their website for more information on local demographics, workforce, available buildings and building sites.
Whether you are just looking in to making your dream of owning a business a reality or have been running a business for years, the Iowa Small Business Development Center is here to serve you! They offer a variety of services including business free business counseling, training events and numerous resources to help you successfully run your business.
Their article "The Facts About Starting a Business" and their "Business Feasibility Workbook" are both great places get started on putting those brilliant business ideas into action! If you wish to take some educational training in person, please go to our Workshop Calendar to see what workshops are available across the state. You can also find more workshops on the SBA's event calendar or IASourceLink.
SCORE is a non-profit association dedicated to helping businesses get off the ground, grow and achieve their goals through education and mentorship for nearly 50 years. Check out their website for great resources such as free business tools, templates and tips; inexpensive or free business workshops and webinars; and to find out about free, confidential counseling in person or via email. Contact the Northeast Iowa SCORE office at 563-382-3990.