On Monday, March 23, 2020, 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.
The program offers eligible small businesses grants ranging from $5,000-$25,000 in addition to offering Iowa businesses a deferral of sales and use or withholding taxes due and waiver of penalty and interest.
To be eligible for a small business relief grant, eligible businesses must:
- Be experiencing business disruption due to the COVID-19 pandemic
- Have employed between 2-25 people prior to March 17, 2020
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 application deadline is Tuesday, March 31, at 12 p.m.
More information and other resources are available at iowabusinessrecovery.com.