Economic Relief for Small Businesses

Resources for businesses

COVID-19 | Aug 2020

Need help for your business?

The NIACC Pappajohn Center & SBDC has established the North Iowa Small Business Help Line to answer questions from entrepreneurs about the Federal Coronavirus Relief programs including those contained in the CARES Act such as the Paycheck Protection Program (PPP), the Economic Injury Disaster Loan (EIDL), and other SBA programs. 

Starting Monday, April 6, Business owners may call (641) 422- 4737 Monday through Friday, 9:00 AM to 4:00 PM or email at cares@niacc.edu.

Check out this opportunity from MAIN STREET IOWA – https://www.mainstreet.org/howwecanhelp/hartbeat

$5,000 – $15,000 grants awarded on a competitive and first-come, first-served basis

What types of businesses are eligible?

Businesses must meet the following criteria to apply:

  • The business must be a business entity in good standing in the state in which it was formed and the state in which it does business.
  • The applicant’s business has a “brick-and-mortar” location and operates in an older or historic main street, downtown or commercial district in the U.S.
  • The applicant’s business employs 20 or fewer full time employees, including the owner.
  • The applicant’s business has been in operation since January 1, 2019.
  • The applicant is an owner of the business and is 18 years of age or older.

 

What types of grant expenses are eligible?

Eligible grant expenses include but are not limited to:

  • Physical improvements to business space to meet relevant reopening requirements implemented because of COVID-19
  • Equipment to comply with public health and safety guidelines (i.e., touchless payment methods, automatic door open sensors, or disposable menus)
  • Fees associated with expanding the business to e-commerce sales
  • Other professional services, such as business plan modifications
  • Rent, payroll, and other operating expenses

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Do you have questions about your eligibility for support under the CARES Act? See this step-by-step guide the U.S. Chamber of Commerce has created to help small business and nonprofits navigate the new emergency coronavirus loans created by Congress. Download it here: https://www.uschamberfoundation.org/…/coronavirus-emergency…

Emergency loans guide and check list for small businesses – https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf

 

Emergency loans check list for small businesses and non-profits https://www.uschamberfoundation.org/sites/default/files/C3_COVID_EmergencyLoanGuide.pdf

 

State Grant and loan opportunity for small businesses


he State site for information for businesses affected by COVID-19.

A fund has been created to support Targeted Small Businesses (TSB) with zero employees that have been economically impacted by the COVID-19 pandemic. 

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Small Business Administration  

SBA Disaster Assistance
The Governor issued disaster declaration to the SBA for all 99 counties in Iowa. Here is a link to encourage small businesses and private non-profits to start applying for disaster relief. An injured business is defined as a business that cannot make payroll or PTO due to lack of commerce. 
https://www.sba.gov/funding-programs/disaster-assistance 

The SBA is providing loans to small businesses due to the coronavirus (COVID-19) pandemic. The loans offer up to $2 million in assistance to pay fixed debts, payroll, accounts payable and other bills.
The deadline to apply is December 16, 2020. For more information go to: sba.gov/coronavirus. accessing additional Grant and Loan opportunities.

The SBA’s Iowa office is holding two webinars to provide an overview of the assistance available to Iowa small businesses:

Download the SBA Disaster Assistance in Response fact sheet for additional information or visit their website.

 

COVID-19 Resources for Volunteer Iowa Programs and Nonprofits


Resources

Unemployment Insurance

Iowa Workforce offers a video answering questions about unemployment insurance. The Unemployment Insurance Q & A video will go over commonly asked questions https://youtu.be/8L4XRt2YxGk

See the State site-
https://www.iowaworkforcedevelopment.gov/?utm_medium=email&utm_source=govdelivery