Criteria for Participation:
1. The business must be located in an Arterial Commercial District, a Business
Commercial District, or a Light Industrial District.
2. Qualified small business applicants must have gross receipts of less than
$350,000 or employ less then the equivalent of 5 full-time employees. For a small
business to qualify as a start-up, a small business must be within the first year of
3. Applicants must submit a concept document and sufficient financial information to
allow the Economic Development Committee to pass judgment on a letter of
application. The Committee may request additional information and requires that
applicants submit a full business plan, balance statement, identification of other
funding sources, and other such information.
4. The business owner must meet with staff of Western Iowa Development
Association to review or develop a business plan and to discuss other possible
5. The business must be in conformance with all regulations, codes, or licensing
6. Once the Economic Development Committee is satisfied that the applicant has
fulfilled all requirements, the funding request will be forwarded to the Walnut City
Council for final consideration.
7. The program reimburses expenses and does not advance money without
documentation supporting the request for reimbursement.
8. Other reasonable conditions may be created by the Economic Development
Committee at its discretion.