Posted: March 25, 2020
Governor Reynolds Announces COVID-19 Iowa Small Business Relief Program
Financial Assistance and Tax Deferral Now Available to Eligible Small Businesses
Impacted by COVID-19
March 23, 2020 (DES MOINES) – Governor Reynolds today announced the launch of a
new Iowa Small Business Relief Program that will provide financial assistance to small
businesses that have been economically impacted by the COVID-19 pandemic. The
program offers eligible small businesses grants ranging from $5,000-$25,000 in
addition to offering Iowa businesses a deferral of sales and use or withholding taxes
due and waiver of penalty and interest.
“Small businesses are the source of thriving main streets and community pride across
Iowa,” said Gov. Reynolds. “The Small Business Relief Grant Program is another way
we can support our small businesses during this unprecedented time.”
Iowa Small Business Relief Program Grant:
To be eligible for a small business relief grant, eligible businesses must:
Be experiencing business disruption due to the COVID-19 pandemic
Have employed between 2-25 people prior to March 17, 2020
The Small Business Relief Grants will assist eligible businesses in maintaining
operations or reopening business following the COVID-19 pandemic. The funds may
not be used to pay debts incurred prior to March 17, 2020.
The Iowa Economic Development Authority will review grant applications for eligibility
and will determine the grant amount by the level of impact including loss in sales
revenue and employees. Notification of award decisions and disbursement of grant
funds will be expedited.
The Iowa Department of Revenue will review each application as applicable, to
determine if it is appropriate to grant a deferral of the eligible taxes and waiver of
penalty and interest.
The dual application for grant assistance and tax deferral is available at
iowabusinessrecovery.com. The deadline for applications is March 31 at 12:00 p.m.
(noon). The program may be restricted due to funding availability