Resources Available to Iowa Small Businesses Affected by COVID-19
As our country and community are working together to overcome the impacts of the Coronavirus (COVID-19), several Federal and State resources are becoming available to provide assistance to businesses and their employees.
The U.S. Small Business Administration (SBA) is offering an Economic Injury Disaster Loan (EIDL) to eligible small businesses. Information is available https://disasterloan.sba.gov/ela
Iowa Governor Reynolds announced new state-based disaster assistance for small businesses at a press conference earlier today. The Iowa Economic Development Authority, Iowa Department of Revenue, and Iowa Workforce Development will make funding available for small grants to employers with 2-25 employees ranging from 5,000-$25,000. In addition, the Iowa Department of Revenue is extending the sales and withholding tax deadline for any business that receives a grant and will consider an extension for any business who applies for a grant. Also, Iowa Workforce Development will allow businesses with fewer than 50 employees to delay their unemployment tax credits for the first quarter until July 31. Additional information and an application for the Iowa Small Business Relief Program will be available on March 24 at www.iowabusinessrecovery.com.
IASourceLink, a resource provider serving Iowa’s business community with technical assistance, funding, and resource connections, offers a variety of local and national resources on their website at https://iasourcelink.com.
The Sioux City Economic Development website has information available at www.locatesiouxcity.com/coronavirus. The website will be updated as new information becomes available.