SBA Press Release: $250,000 Now Available to Support Small Business Export Growth in Iowa

u s small business administration

NEWS RELEASE

Iowa District Office

 

Release Date: IMMEDIATE

 

Release Number: 22-9-2

 

Contact: [SBA email address]

www.sba.gov/news
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SBA Names Iowa Economic Development Authority (IEDA) as 2022 State Trade Expansion Program Awardee

$250,000 Now Available to Support Small Business Export Growth in Iowa

 

(DES MOINES, Iowa) – The U.S. Small Business Administration just announced that $20 million in grant funding has been awarded to state international trade agencies throughout the country via a competitive application process to SBA’s State Trade Expansion Program grant program.

Locally, the Iowa Economic Development Authority (IEDA) earned$250,000 of that pool to help provide small businesses with the information and tools they need to succeed in export-related activities. Exporting activities include: participating in foreign trade missions, market sales trips, designing international marketing campaigns, participating in export trade show exhibits, and attending training workshops, as well as other important means of engagement.

This year marks the 10th year of the STEP funding, which has awarded over $215 million to date. Since 95% of the world's consumers and two-thirds of all purchasing power are located outside the United States, this grant program plays a critical role in providing access to capital, access to markets, and access to buyers.

If you would like to learn more about the program go to www.SBA.gov/STEP. For information on how IEDA will leverage this year’s STEP funding, visit www.iowaeda.com/international-trade/financial-assistance

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About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.