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Frequently Asked Questions

Browse some of EDC’s most frequently asked questions below. 

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EDC is a nonprofit business growth engine that strategically partners with Iowa-based interstate commerce companies to drive strong economic impact. In doing this, we fuel vital and sustainable communities. Based in Cedar Rapids, Iowa, EDC has been helping power business success at every stage for more than 20 years.

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EDC connects business needs with qualified community and state resources, and provides hands-on professional support. Our seasoned business leaders work with business owners to maximize their success. We help them fill gaps in their organizations, navigate resources, strengthen their knowledge and skills, form strategic alliances, and secure proper capitalization.

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EDC assists start-up businesses, early-stage businesses, and established businesses, focusing specifically on Iowa-based interstate commerce companies. Whether you’re incubating a new business idea or working to improve your current business model, EDC can help your business scale!

In some cases, EDC acts as a sounding board to provide guidance and advice to clients. For others, EDC is an extension of their team. We roll up our sleeves and execute on the tasks necessary to grow the business. Our staff includes five full-time, seasoned business professionals who provide one-to-one guidance in the following areas:
  • Business planning and strategy
  • Marketing planning and execution
  • Operations
  • Financial (QuickBooks)
  • Funding (state, local and venture capital)
  • Team development (hiring and training)
  • Sales training and mentoring

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Applicants must be Iowa-based businesses that sell products or services across state lines.

We partner with public entities including the State of Iowa and the Cities of Cedar Rapids, Hiawatha, Iowa City, Coralville, and North Liberty. We also partner with private entities including Alliant Energy and multiple law firms and accounting firms. Several EDC clients have grown to provide support for other startup businesses—MobileDemand, Involta, Ready Wireless, and Bazooka, to name a few.

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Given EDC’s focus on high-impact, Iowa-based companies, we play a vital role in the state’s business ecosystem. The companies we partner with generate wealth that is reinvested in our communities. We work alongside business owners to scale their businesses faster, generate jobs, and create vitality for our state’s economy.

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The biggest difference is in how we work with business owners. EDC provides one-to-one strategic guidance based on what the business owner needs and when they need it. We work comprehensively to maximize a business owner’s potential for success.

Our average client engagement is five to seven years.

If a client completes an application and is offered an EDC Service Agreement, a monthly fee is charged. This is based on whether revenue is being generated and the type of industry. On average, this fee is between $100 and $250 per month.

Services are provided based on client needs. As an EDC client, you have a team of experts at your disposal as often or as little as you need us. You also have access to networking and educational events, as well as business planning, financial, strategic reviews, and more.

Rather than defining a step-by-step path, EDC walks alongside you down that path to success. Our seasoned business professionals have spent years traveling down that path themselves and guiding others.

Yes! Additionally, we help you stay on top of new funding programs.

Yes—EDC can help start-up or early-stage companies write effective business plans.

EDC does not invest or have equity in our clients’ businesses.

You’ll need any information pertinent to your business or organization. This includes financials, business plans, and legal documents.