Grinnell Small Business Relief Fund
This has been launched to aid small businesses navigate the COVID-19 public health emergency. Find more information on this page.
Small Business Administration (SBA)
SBA has opened the Economic Injury Disaster Loan (EIDL). The SBA is now making loans available statewide to small businesses and private, non-profit organizations to help alleviate economic injury caused by the Coronavirus (COVID-19). SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
Applications can be made via the SBA’s website: https://disasterloan.sba.gov/
For more information on EIDL loans: https://www.uschamber.com/report/guide-sbas-economic-injury-disaster-loans
Employee Retention Tax Credit
Iowa Small Business Relief Program
Governor Reynolds has announced the Iowa Small Business Relief Program Grant through the Iowa Economic Development Authority (IEDA) and applications go live at 8AM this morning. This program will provide financial assistance to small businesses that have been economically impacted by the COVID-19 pandemic. More information about the Iowa Small Business Relief Program:
More information on the Iowa Small Business Relief Program, including further eligibility requirements, can be found here. The application will be live beginning at 8AM Tuesday, March 24th. Please note, the deadline for applications is March 31, 2020 at 12PM (noon) and the program may be restricted due to funding availability. Click HERE for a worksheet of all information you need to collect to apply for this grant.
Iowa Targeted Small Business Sole Operator Fund
Iowa Workforce Development
Unemployment Insurance Tax Extension has been announced by Governor Reynolds. Payments that are due April 30th will be delayed until the end of the 2nd quarter, July 31, 2020. Find more information HERE.
Additional SBA assistance and resources can be found HERE.
UnityPoint Health - Grinnell Regional Medical Center