Thank you for your interest in the 2026 Main Street Iowa Open 4 Business Program.
The Main Street Iowa Open 4 Business program was developed by Main Street Iowa (MSI) to encourage business development in designated Main Street districts.
What types of things can you spend the money on?
- YES: Display equipment/fixtures, Inventory, Equipment, Marketing, Computers, Software Upgrades, Website development
- NO: Rent, Utilities, Payroll for employees, Remodeling, Vehicles, Employee trainings/workshops
Applicants are required to completed the Phase 1 application with Main Street Waterloo to be be considered for the Waterloo application. If selected, the applicant will work with Main Street Waterloo to complete an online application and submit a three minute "video pitch" about your business idea. The video pitch is a simple video that tells about the idea and how you would invest the Open 4 Business grant funds to help expand and grow your business. Find full program guidelines here.
Eligibility:
The competition is open to legal residents of the State of Iowa. Must be 18 years old at the time of submitting an entry. Participants must be a for-profit business located within the Main Street Waterloo district and have been in operations for a minimum of one year prior to submitting the application.
- This is a reimbursement grant. Businesses must first make the purchase and then submit their receipts for reimbursement for allowable expenses.
- A 25% cash match was required
- The top 5 finalists received $5,000
- Finalists compete in a pitch competition for the chance to win funds towards their business plan, up to $20,000
- Total possible award is $25,000
Main Street Waterloo is only able to submit one application from our district, so we are asking interested business to complete this application. The Economic Vitality Council will review all applications and determine which one to move forward with. We will be looking at:
- Is the applicant eligible based on the Main Street Iowa Guidelines?
- Is the project eligible based on the Main Street Iowa Guidelines?
- Is the application complete?
- Is all information requested provided?
- Is the business/property owner in good standing with the City?
If selected, a representative for the project will work with Main Street Waterloo to complete the full application. The final application will be reviewed by Main Street Iowa and Iowa Economic Development Authority and make awards based on information provided in the grant application. Projects will be scored and ranked according to the scoring criteria outlined in the application.
Phase 1 is due to Main Street Waterloo by March 27, 2026 at 5pm. The Economic Vitality Council will review applications and announce which project we are moving forward with on or before April 13, 2026.
Timeline:
- Phase 1 application closes at March 27, 2026 at 5pm
- Phase 1 applicants notified on or before April 13, 2026
- Weekly meetings or phone calls to ensure application is complete
- Grant application due May 1
- Top 12 finalists named by end of May 2026
- Top 12 finalists will participate in virtual interviews June 2026 - Interviews will last no more than 15 minutes
- 5 finalists will be named bythe end of June 2026
- June & July Coaching for state pitch contest
- State Pitch Competition and award announcement in August 2026 at the Iowa Downtown Conference
If awarded the grant, the business is required to remain in operation within the Main Street Waterloo district for 2 years following the contract start date, or they will have to repay the funds.