Manufacturing 4.0 Loan Participation Program
Innovative Technology Loans
ENCOURAGING TECHNOLOGY INVESTMENT
The Manufacturing 4.0 Loan Participation Program assists manufacturers making the transition to Industry 4.0 technologies. IEDA is partnering with with Iowa's lenders to help offset the risk in extending capital to manufacturers seeking to make investments that will better position them to compete in the new digital world.
The funding is available through the U.S. Treasury's State Small Business Credit Initiative (SSBCI) as part of Iowa's $96 million investment in business growth and innovation.
The funds can be used for:
Acquiring Industry 4.0 fixed asset equipment
- Specialized equipment for automation
- Collaborative robotics
- Equipment for process improvements
Acquiring Industry 4.0 software assets
- IIoT (Industrial Internet of Things) implementation
- Infrastructure hardware
- Cybersecurity protocols
- Predictive maintenance software
- Sensor integration tools
- Industrial wearable technology for injury prevention
- Data visualization software
- RFID (Radio Frequency Identification) tagging
Manufacturers interested in the program should contact a commercial lender directly to inquire about the loan support.
To be eligible for loan participation, Iowa manufacturers must:
- Be incorporated or authorized to do business in Iowa
- Derive a minimum of 51% of their revenue from the sale of manufactured goods or via a contribution to automation activities
- Operate for a profit
- Have fewer than 500 employees across all locations and divisions
- Cannot earn any portion of revenue from lending activities
- Must meet other criteria outlined in the application by the lender and/or U.S. Treasury requirements
- Priority given to companies with a NAICS code falling between 31-33
How Do I Apply?
- Manufacturers should contact a commercial lender directly to inquire about using the program as a lending option when making an investment in Industry 4.0 technologies.
- Lenders can apply on behalf of borrowers and request up to 20% participation in a loan through the program.