The North Iowa Small Business Recovery is now accepting pre-applications. The program is targeted at locally owned independent businesses with fewer than 25 employees who have experienced significant revenue decreases and business disruption due to COVID-19. The program is open to sole proprietors, and the grant may be used for a variety of uses including working capital, inventory, lease/mortgage payments, employee retention, utilities, etc..
Step 1: Complete the pre-application by April 17. North Iowa Corridor EDC staff will evaluate your information to determine eligibility and help you identify the most appropriate support. We strongly encourage you to apply for state and federal programs first. You can find a program list here.
Step 2: Eligible businesses will be invited to complete a full application (also online). The deadline for the full application is April 24. A panel will review the completed applications and make the grant awards as quickly as possible.
The North Iowa Small Business Recovery Fund has been established by the North Iowa Corridor, City of Clear Lake, City of Mason City, and Cerro Gordo County in order to assist as many eligible businesses in maintaining operations or reopening after the pandemic to limit the negative economic impact as much as possible. Applicants will need to provide standard business ownership information that the review committee will use to identify how to best distribute funds to provide immediate assistance to businesses experiencing the most impact and pressing needs.