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Iowa receives $100,000 SBA grant for small business export assistance


The U.S. Small Business Administration announced recently that Iowa is among 48 state international trade agencies that successfully competed for $19 million in grants to support export growth among small businesses through SBA’s competitive State Trade Expansion Program (STEP). Iowa was awarded $100,000 for the program’s fiscal year that begins Thursday, the program’s ninth year. The Iowa Department of Economic Development will provide $33,000 in matching state funds. There is an optional additional year of funding for the following fiscal year, but whether that will be awarded won’t be known until a later date, an IEDA spokesperson said. STEP awards help fund exporting activities, such as participating in foreign trade missions and foreign market sales trips, obtaining services provided by the U.S. Department of Commerce, accessing expertise in designing international marketing campaigns and export trade show exhibits, and participating in training workshops. For more information about the STEP program and other export resources provided by the SBA, visit SBA’s business guide to exporting products.

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