Iowa State Officials Launching Four Million Dollars in Small Business Relief Program

State officials are launching a four-million dollar “Small Business Relief Program.” It will provide grants of up to 25-thousand dollars for small businesses affected by closures related to the COVID-19 outbreak. Iowa Economic Development Authority director Debi (like “Debbie”) Durham says businesses with between two and 25 employees prior to March 17th are eligible to apply, starting tomorrow (Tuesday).

Governor Kim Reynolds has taken other steps to extend some tax deadlines for small businesses. For example, businesses with fewer than 50 employees can delay paying first quarter unemployment taxes to the state until July 1st. The governor says these steps may provide small business owners with some extra cash flow.

Small businesses that qualify may have deadlines moved for paying state sales taxes. The FEDERAL Small Business Administration is also offering low interest loans of up to two MILLION dollars to affected businesses.