Governor announces Iowa Small Business Relief Fund

Monday, March 23, 2020 ~ Updated 7:09 PM

Gov. Kim Reynolds, Iowa Workforce Development Director Beth Townsend and Iowa Economic Development Authority Director Debi Durham this afternoon announced the creation of the Iowa Small Business Relief Fund in response to COVID-19.

Program highlights:

Businesses with 2-25 employees prior to March 17 may apply for microgrants up to $25,000. Businesses that receive a grant will automatically be granted an extension to their sales and withholding taxes; business that do not receive the grant can apply for the tax deferments separately.

Businesses with 50 or fewer employers may apply for deferment of their unemployment tax until July 31.

Applications will be available 8 a.m. Tuesday at https://www.iowaeconomicdevelopment.com/our-agency-detail-resources/6710/. This program is in addition to the SBA Economic Injury Disaster Loan eligibility for Iowa businesses announced over the weekend.

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