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Iowa to Launch Small Business Grant Program
Small businesses can apply for up to $25,000 in state grants to stay afloat during the coronavirus pandemic, Iowa Gov. Kim Reynolds announced at a news conference.
The money comes from about $4 million in disaster money approved by the legislature before it postponed its session earlier this month and from existing money in the Iowa Economic Development Authority.
Businesses with between 2 and 25 employees prior to March 17 can apply for the grant. Those who receive the grant will automatically be granted a sales and withholding tax extension; businesses that don’t receive the grant can also apply for that. Businesses with 50 or fewer employees can also ask for delay in their unemployment tax payment until July 31.
From the IEDA Website:
IOWA SMALL BUSINESS RELIEF FUND
On Monday, March 23, Governor Reynolds announced a new Iowa Small Business Relief Program that will provide financial assistance to small businesses and tax deferrals to any Iowa businesses that have been economically impacted by the COVID-19 pandemic. Applications will be available on this website on Tuesday, March 24, at 8 a.m. Application deadline is Tuesday, March 31, at 12 p.m.
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