Grinnell Chamber Members — Governor Reynolds has announced the Iowa Small Business Relief Program Grant through the Iowa Economic Development Authority (IEDA) and applications go live at 8AM this morning. This program will provide financial assistance to small businesses that have been economically impacted by the COVID-19 pandemic.
Here’s what else you need to know about the Iowa Small Business Relief Program:
- Businesses with 2-25 employees may apply for grants of $5,000 to $25,000, and distribution will vary based on business model and size.
- Businesses that receive a grant also may defer payment of state sales and payroll taxes – without penalty or interest.
- The state will consider an extension for any business that applies.
- The state will consider an extension for any business that applies.
- Businesses with fewer than 50 employees may delay unemployment tax payments until July 31.
- The deadline to apply is 12 p.m. Tuesday, March 31.
- Applications will be reviewed and approved as they are received, and notifications will be made quickly.
More information on the Iowa Small Business Relief Program, including further eligibility requirements, can be found here. The application will be live beginning at 8AM today. Please note, the deadline for applications is March 31, 2020 at 12PM (noon) and the program may be restricted due to funding availability. This is a quick turnaround time; if you need assistance completing an application, please let our team know and we will do what we can to help.
Regarding funding opportunities, we also encourage you to join the SBA for a Disaster Assistance Webinar today at 2:30PM or Thursday at 2:30PM. Both webinars are identical in content and will discuss loan program details, eligibility, application requirements and where/how to submit a loan application.
Tuesday, March 24, 2020 2:30 – 4:00 p.m.Join at https://meet.lync.com/sba123/tdlentel/FV4ZWJJY There will be a visual presentation, but you can join by audio only at (202) 765-1264 using ID# 118151981# Thursday, March 26, 2020 2:30 – 4:00 p.m.Join at https://meet.lync.com/sba123/tdlentel/FKK1FR1Y There will be a visual presentation, but you can join by audio only at (202) 765-1264 using ID# 480330157#
Details on SBA’s Economic Injury Disaster Loan Program can be found here: https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance.
