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State

Governor announces COVID-19 Iowa Small Business Relief Program

Financial Assistance and tax deferral now available to eligible small businesses impacted by COVID-19

Gov. Kim Reynolds 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,” Reynolds said. “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

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.

Tax Assistance

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 noon March 31. The program may be restricted due to funding availability. 

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