Financial Assistance and Tax Deferral is Available to Eligible Small Businesses Impacted by COVID-19
There is an 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 tax or withholding taxes and a waiver of penalty and interest.
To be eligible for a small business relief grant, 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 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).