Today is the final day to apply for a new relief fund that will help businesses in Forest City affected by the pandemic. Several Forest City based businesses have already applied, however there is still room for more applications. According to Forest City Economic Development Director Norma Hertzer, the program will help Forest City business recover.
Any Forest City business that has experienced disruption and revenue losses because of the pandemic shutdown is eligible to at least apply.
The loan portion is payable in six months or if that becomes a problem, they can it pay back in installments. There are criteria regarding business size according to Forest City Administrator Barb Smith.
Businesses must be locally owned and located within the city limits of Forest City. These same businesses can apply for the relief money even if they have applied and or received federal relief money as well. The applications will be reviewed by a committee.
The applications will be kept strictly confidential, but applicants must provide as much complete information as is possible. This will allow the committee to make the most informed and accurate decisions possible according to Forest City Chamber Executive Director Beth Bilyeu.
The applications are available until 5 pm May 15th.
Assistance in establishing the fund comes from several sources including the Hanson Foundation, the Forest City Chamber of Commerce, and the City of Forest City. None of the money is from taxpayer dollars according to Smith.
Priority will be given to those businesses and sectors ordered closed by Governor Kim Reynolds.
More information and complete applications can be found by going to forestcityia.com. Questions can be answered by calling (641) 585-5560.
Forest City Economic Development produced a short video on the grant/loan program. Click the link below to view it.