Iowa Admin. Code r. 281-56.35 - Award of financial assistance funds
(1)
Awards. Following the
business development specialist's review of the business plan feasibility
study, the business development specialist will issue a recommendation to
support or not to support the proposed business venture. The counselor shall
make a decision regarding approval or denial of the recommendation. If the plan
is approved, the job candidate and counselor will review conditions of the
financial assistance award and sign the appropriate forms of acknowledgment.
a. Financial assistance funds may be awarded,
based on need, up to $10,000 after approval of a business plan feasibility
study and evidence of business need or evidence of business progression. Before
receiving financial assistance, the job candidate must demonstrate a
dollar-for-dollar match based on the amount of funding needed. The match may be
provided through approved existing business assets, cash, conventional
financing or other approved sources.
b. Financial assistance funds may be approved
for, but are not limited to: equipment, tools, printing of marketing materials,
advertising, rent (up to six months), direct-mail postage, raw materials,
inventory, insurance (up to six months), and other approved start-up,
expansion, or acquisition costs.
(2)
Award process. The
amount that may be recommended by the business development specialist and
approved by the counselor shall be provided when there is a need. Recipients of
financial assistance must demonstrate ongoing cooperation by providing the
business development specialist with financial information needed to assess
business progress before additional funds are expended.
(3)
Financial assistance
contracts. Contracts for financial assistance funds shall be the
responsibility of the division and will be consistent with the authorized use
of Title I vocational rehabilitation funds and policy.
(4)
Vendors. Procurement of
goods or services shall follow procedures established by the department of
administrative services. The type of goods or services to be obtained, as well
as a timeline for delivery of such, shall be stated by the vendor and agreed
upon by the division . Authorization for goods or services shall be made by a
counselor employed by the division or the department for the blind based upon
the negotiated rate and terms as noted in the contract. A copy of each contract
shall be filed with the division . Approval for payment of authorized goods or
services shall be made by authorized division personnel.
Notes
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