Des Moines, Ia- Governor Reynolds announced on Monday, the launch of a new Iowa Small Business Relief Program to aid small businesses that have been economically impacted by COVID-19.
The program offers eligible businesses grants ranging between $5,000 and $25,000 in addition to offering a deferral of sales and use or withholding taxes due, waiver penalty, and interest.
To be eligible for a small business relief grant, a business must:
- Be experiencing business disruption due to COVID-19
- Have employed between 2-25 people prior to March 17th, 2020
The small business relief grants will assist eligible businesses in maintaining operations or re-opening following the COVID-19 pandemic. The funds from these grants may not be used to pay debts acquired prior to March 17th, 2020.