DES MOINES, Iowa (KTIV) - On Monday Iowa Governor Kim Reynolds announced a new relief program for small businesses impacted in the state by COVID-19.
The Iowa Small Business Relief Program will offer eligible small businesses grants ranging from $5,000-$25,000, in addition to offering businesses a deferral of sales and use or withholding taxes due and waiver of penalty and interest.
Eligible businesses must:
- Be experiencing business disruption due to the COVID-19 pandemic
- Have employed between 2-25 people prior to March 17.
The Small Business Relief Grants will assist eligible businesses in maintaining operations or reopening business following the COVID-19 pandemic. The funds may not be used to pay debts incurred prior to March 17, 2020.
The Iowa Economic Development Authority will review grant applications and determine the grant amount by the level of impact including loss in sales revenue and employees.
The dual application for grant assistance and tax deferral is available at iowabusinessrecovery.com.
The deadline for applications is March 31 at noon.