2026 Downtown Waterloo IMPACT Grant

2026 Application
Main Street Waterloo is excited to offer the 2026 Downtown IMPACT Grant, designed to help existing downtown businesses invest in projects that support growth, innovation, and long-term success while positively impacting Downtown Waterloo.

Funded through contributions from businesses and community members and proceeds from the Main Street Waterloo Golf Tournament, the Downtown IMPACT Grant awards $1,500 to $7,000 for eligible projects.

We are looking for projects that create meaningful impact, not only for your business, but for Downtown Waterloo. Whether your project helps you reach new customers, expand your products or services, improve operations, create jobs, bring new life to the space, or pursue a new opportunity, we want to hear how this investment will help your business grow and contribute to a stronger, more vibrant downtown.

Program Goals
The Downtown IMPACT Grant is designed to:

Support business growth, expansion, and innovation in Downtown Waterloo
Encourage continued private investment in the downtown district
Strengthen the long-term sustainability of downtown businesses
Generate positive economic and community impact
Build stronger connections between downtown businesses and Main Street Waterloo

Eligibility
To apply:
- The business must have been in operation since at least August 1, 2025.
- The business and proposed project must have a commercial location within the designated Main Street Waterloo district by August 1, 2026.
- The applicant must be at least 18 years old and a legal resident of the State of Iowa.
- Main Street Waterloo employees and their immediate family members (parent, child, sibling, or spouse) are not eligible. Applicants should review the Downtown Waterloo district map to confirm that their business is located within the eligible area.
Applicants should review the Downtown Waterloo district map to confirm that their business is located within the eligible area.

Grant Awards
Minimum Award: $1,500
Maximum Award: $7,000

Applicants will identify the amount of funding requested as part of the application.

The Downtown IMPACT Grant is a competitive program. Submitting an application does not guarantee selection as a finalist, receipt of funding, or the amount of funding requested. Main Street Waterloo may award an amount different from the amount requested based on available funding, project merit, eligible applications, and other program considerations.

Application Requirements
Completed applications are due October 22, 2026 at 5:00 PM.

To be considered, applicants must submit a complete application and all required materials, including the Downtown IMPACT Grant Project Budget. Applicants are responsible for ensuring their application is complete before submission. Late applications will not be considered, and incomplete applications may be deemed ineligible.

Applicants may also submit optional supporting materials that help reviewers better understand the proposed project.

How Applications Are Evaluated
The Main Street Waterloo Economic Vitality Council will review eligible applications using the scoring criteria included in this application.

Reviewers will consider factors including:
- Strength and feasibility of the proposed project
- Business investment and financial sustainability
- Potential for business growth and increased revenue
- Impact on Downtown Waterloo and the broader community
- Market opportunity and potential for continued success
- Alignment with the goals of the Downtown IMPACT Grant Following the initial review, selected applicants will advance to the Business Pitch.
Following the initial review, selected applicants will advance to the Business Pitch.

Business Pitch
Finalists will be invited to present their proposed project on Thursday, December 3, 2026 at 12:00 PM at the Main Street Waterloo office.

Each finalist will have 10 minutes to tell the story of their project, explain the opportunity they are pursuing, and share how the proposed investment will benefit their business and Downtown Waterloo.

Be creative and have fun with it! The goal is to help reviewers understand your vision and why this project matters.

Presentations may not exceed 10 minutes. Following each presentation, reviewers will have up to 20 minutes for questions.

Applicants will be notified in writing by November 18, 2026 whether they have been selected to participate in the Business Pitch.

Important Dates
Application Deadline: October 22, 2026 at 5:00 PM
Finalists Notified: By November 18, 2026
Business Pitch: December 3, 2026 at 12:00 PM
Grant Awards Announced: December 18, 2026
Project Completion: Within 12 months of award notification, unless an extension is approved by Main Street Waterloo

If You Receive an Award
Award recipients will enter into a grant agreement with Main Street Waterloo outlining the approved project, award amount, eligible expenses, payment process, reporting requirements, and other terms of the award.

Do not begin the grant-funded portion of the project until your grant agreement has been finalized and you have received authorization from Main Street Waterloo. Expenses incurred or work completed before authorization may not be eligible for grant funding.

Award recipients will be required to document project expenses and completion, including applicable invoices, proof of payment, photographs, and other requested documentation.

Receiving Grant Funds
Grant funds may be provided through reimbursement or, when approved in advance, through direct payment to eligible project vendors.

Reimbursement
A partial reimbursement may be requested once at least 50% of the approved project is complete. Applicants must provide photographs of completed work, applicable paid invoices, and proof of payment. Partial reimbursement may not exceed 60% of the total grant award.

Final reimbursement will be issued following completion of the approved project, submission of required documentation, and final review by Main Street Waterloo.

Direct Vendor Payment
Award recipients may request that Main Street Waterloo make certain payments directly to project vendors. This option must be requested and approved as part of the grant agreement before work begins.

Vendor payments must be supported by appropriate documentation. Eligible vendor invoices must be at least $500 and must be submitted promptly upon receipt. Main Street Waterloo may also require applicable contracts, agreements, estimates, or other supporting documentation.

Program Terms
Main Street Waterloo reserves the right to determine eligibility, request additional information or clarification, reject any or all applications, determine the number of awards made, award an amount different from the amount requested, or determine that no awards will be made.

Award recipients may be required to provide project budgets, invoices, proof of payment, photographs, project results, and other documentation necessary to administer and evaluate the grant.

Main Street Waterloo may use information about funded projects, including business names, project descriptions, award amounts, photographs, testimonials, and project results, for program reporting, education, fundraising, and promotional purposes.

Program guidelines may be clarified or amended by Main Street Waterloo as necessary. Once an award agreement has been executed, the terms of that agreement will govern the grant award.

Business Information

The physical location of the business must be within the designated Main Street Waterloo district. To be eligible to apply, the business must have been in operation as of August 1, 2025 and have a physical location in the downtown district no later than August 1, 2026.
Business Name
Owner Name

First NameLast Name
Main Contact Name (if different than owner)

First NameLast Name
Main Contact Email
example@example.com
Business Email if different from the Main Contact email
example@example.com
Main Contact Phone Number
Please enter a valid phone number.Format: (000) 000-0000.
Business Phone Number
Please enter a valid phone number.Format: (000) 000-0000.
Business Address

Street Address

Street Address Line 2

CityState / Province

Postal / Zip Code
Do you Own or lease your business location?
Does your project include physical changes or improvements to the property?
Please note: If you lease your business location and your proposed project includes physical changes or improvements to the property, a signed Property Owner Authorization will be required if you are selected to advance to the second-round presentation. The authorization must be submitted before your presentation and will confirm that the property owner is aware of and approves the proposed improvements.
Business website/social media
Business Type:

Other
Date business opened
Date business opened in Downtown Waterloo?

Tell Us About Your Business

20 points
Tell us about your business and the story behind it. What products or services do you provide, who do you serve, and what is your business’s mission or purpose?
What makes your business unique? What distinguishes your business, products, services, or customer experience from other options in the market?
Where do you see your business in the next 3–5 years? Briefly describe your goals for growth, expansion, new products or services, employment, or other future plans.

Proposed Project

50 points
Describe the project you are requesting Downtown IMPACT Grant funding to support. What do you plan to accomplish, purchase, create, expand, or improve?
What business need or opportunity does this project address? Explain why this project is important to your business now and what led you to identify this investment as a priority.
How will this project help your business grow or become more sustainable? Consider increased sales, customers, capacity, efficiency, products or services, employment, or other long-term benefits.

Project Investment & Financial Impact

45 points
Total Project Cost
Downtown IMPACT Grant Amount Requested
Business Investment
Other Funding
How would your business invest the Downtown IMPACT Grant funds? Briefly describe the primary expenses the grant would support and how those expenses are essential to completing the proposed project.
How is your business financially investing in this project? The Downtown IMPACT Grant is intended to support and leverage a business’s own investment in its growth. Describe the amount your business plans to contribute and any other funding sources supporting the project.
Tell us the story behind your project budget. Explain how the major expenses were determined, why they are necessary to the project, and how the proposed combination of grant funds, business investment, and other funding will allow the project to be completed successfully.

Downtown & Community Impact

45 points
How will this project positively impact Downtown Waterloo? Describe how the project will contribute to the vitality of the district through increased activity, investment, customer traffic, improved experiences, partnerships, activation of space, or other benefits.
How does your business engage with and support the Downtown Waterloo community? Share relevant examples of partnerships, collaborations, events, volunteer involvement, support of other local businesses, or other community involvement.
Current number of full-time employees
Current number of part-time employees
Will this project create new jobs or increase hours for existing employees?
If yes, please indicate the number of new full-time positions
If yes, please indicate the number of new part-time positions
Existing positions expected to receive increased hours

Market & Growth Strategy

25 points
What market or customer opportunity does this project help your business address? Describe the customer need, demand, market gap, or opportunity you have identified. What gives you confidence this opportunity exists?
How will you promote the project and turn this investment into business growth? Describe how you plan to create awareness, reach existing and new customers, and maximize the impact of the project.

Measuring Success

15 points
What will success look like? Identify 2–4 measurable outcomes you hope to achieve within the first 12 months after completing the project.

Required Attacments
- Completed Project Budget
- Quotes/estimates for significant project expenses, if available
Upload a Project Budget

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Optional Supporting Materials

Applicants may submit additional materials that help reviewers understand the proposed project, such as photographs, renderings, plans, customer data, letters of support, examples, or other relevant documentation. No more than 5 additional pages combined into 1 file
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Agreement
I certify that the information provided in this application and supporting materials is true and accurate to the best of my knowledge.

I understand that submitting an application does not guarantee selection as a finalist or receipt of grant funding.

I understand that Main Street Waterloo may award an amount different from the amount requested.

I understand that incomplete or late applications may not be considered.

I understand that, if selected, the business will be required to enter into a grant agreement with Main Street Waterloo before beginning the funded project or receiving funds.

I certify that I am authorized to submit this application on behalf of the business.
First NameLast Name
Date

MonthDayYear
2 digit month, 2 digit day, 4 digit yearDate
Should be Empty:

2026 Application

Business Information

Tell Us About Your Business

Proposed Project

Project Investment & Financial Impact

Downtown & Community Impact

Market & Growth Strategy

Measuring Success

Required Attacments

Optional Supporting Materials

Agreement